Dubawn Holdings Inc. v. The Queen, 94 DTC 1252, [1994] 1 CTC 2527 (TCC) -- summary under Paragraph 12(1)(e)

By services, 28 November, 2015

A reserve which the taxpayer had erroneously deducted from income in his 1984 taxation year (which now was statute-barred) was required to be included in income for his 1985 taxation year. Mogan TCJ. stated (p. 1257):

"... if a reserve is in fact claimed and allowed in a particular taxation year, the legality of the allowance is not material and the amount that was in fact deducted must be included in computing the income for the immediately following year".

Topics and taglines
Topic
Income Tax Act - s. 12(1)(e)
Tagline
deducted if factually deducted
Words and phrases
deducted
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
333734
Extra import data
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