Metro-Can Construction Ltd. v. R., 99 DTC 29, [1999] 2 CTC 2206 (TCC) -- summary under Debtor

By services, 28 November, 2015

Because s. 80 in its pre-1995 form applied at the partnership level rather than the level of the member partners, the forgiveness of debts owing by a partnership of which two subsidiaries of the taxpayer were members reduced the undepreciated capital cost of depreciable property of the partnership, rather than reducing losses of the subsidiaries.

Topics and taglines
Topic
Income Tax Act - s. 80(1) - Debtor
Tagline
debt forgiveness applied at partnership level
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
338880
Extra import data
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