Magicuts Inc. v. Canada, 2001 DTC 5665, 2001 FCA 332 -- summary under Subsection 15(2)

By services, 28 November, 2015

Whether there was an amount owing by the taxpayer to its non-resident parent turned on whether accounts between them were netted. The Court found that balance sheet entries by the taxpayer and its parent for the taxation year in question were evidence of an intent or agreement between them to set off.

Topics and taglines
Topic
Income Tax Act - s. 15(2)
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
334409
Extra import data
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