A company with a land development business had a money lending business which consisted of loans to land development joint ventures, tenants, commercial paper purchases and vendor take-back mortgages, was able to recognize the total loss sustained by it on loans it made to three companies owned by the children of the taxpayer's sole shareholder when land development ventures of the three companies failed.
Topics and taglines
Tagline
loans to children's companies made in ordinary course
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
336203
Extra import data
{
"field_legacy_header": "<strong><em>Whitland Construction Co. Ltd. v. The Queen</em></strong>, 99 DTC 33, Docket: 96-4184-IT-G (TCC) <strong>[loans to children's companies made in ordinary course]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": "seealso"
}
"field_legacy_header": "<strong><em>Whitland Construction Co. Ltd. v. The Queen</em></strong>, 99 DTC 33, Docket: 96-4184-IT-G (TCC) <strong>[loans to children's companies made in ordinary course]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": "seealso"
}