Non-interest bearing advances that the taxpayer had made to a corporation after she had sold its shares to a friend were found not to have been made for the purpose of gaining and producing income, with the result that the subsequent loss she sustained when she found the advances to be bad debts could not be recognized as a business investment loss.
Topics and taglines
Tagline
corporation sold before advance
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
337973
Extra import data
{
"field_legacy_header": "<strong><em>Kyriazakos v. The Queen</em></strong>, 2007 DTC 373, 2007 TCC 66 <strong>[corporation sold before advance]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": "seealso"
}
"field_legacy_header": "<strong><em>Kyriazakos v. The Queen</em></strong>, 2007 DTC 373, 2007 TCC 66 <strong>[corporation sold before advance]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": "seealso"
}