9 October 2015 APFF Roundtable Q. 25, 2015-0598321C6 F - Omission of deducting a dividend under 112(1) -- summary under Subsection 152(1)

In response to the specific example of a corporation which discovered that it had failed to claim the intercorporate dividend deduction in a return for which the 90-day objection period has expired, CRA noted that it still stands by IC 75-7R3, dated July 9, 1984, respecting the circumstances in which it will make a reassessment for a reduction in tax payable – so that such an adjustment would be available provided that the normal reassessment period does not expire without the giving of a waiver.