Summary UnderTax Topics - Income Tax Act - Section 214 - Subsection 214(7) Summary UnderTax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Principal Amount Where a corporation issues a convertible debenture and the debenture is converted to shares, the amount paid-up for the shares that are issued is...The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access. Email this Content