Groupmark Canada Ltd. v. The Queen, 93 DTC 5179, [1993] 1 CTC 234 (FCTD) -- summary under Subsection 194(4)

By services, 28 November, 2015

A related corporation issued a non-interest bearing promissory note for $120,000 to the taxpayer on May 18, 1984. Given that advances in excess of $120,000 had actually been made by the taxpayer to the other corporation in varying amounts both before and after the agreement of May 18, 1984, the requirement that "consideration" for $120,000 be issued or granted was met.

Topics and taglines
Topic
Income Tax Act - s. 194(4)
Words and phrases
consideration
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
335883
Extra import data
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