After noting (at para. 21) that "the case law is clear that an amount may be included in income even where it is only notionally or constructively received", McArthur, J. went on to find that the taxpayer had received insurance policies under a policy that had been assigned by it to a bank given that it benefited from the insurance proceeds being applied to pay off a loan owing by it to the bank.
Topics and taglines
Tagline
receipt when payment to creditor
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
333008
Extra import data
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