88 C.R. - "Finance and Leasing" - "Interest" - "Amounts Paid on Redemption of Bonds or Purchase of Bonds in the Open Market"

Where an issuer purchases a bond on the open market (as opposed to redeeming it) the accrued interest will never be deductible by it.

The purchase on the open market by the issuer of a bond held by a non-resident is deemed to be a payment of interest subject to the provisions of...

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