Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
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921168 |
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S. Leung |
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(613)957-2115 |
May 5, 1992
Audit Technical Support Corporate Reorganizations IIIK. WarrenDirector
Subsections 15(1), 56(2) and 52(1) of the Income Tax Act (the "Act")
Attached please find a memorandum from Mississauga District Office requesting our view on whether administrative relief should be afforded to the factual situation described in the memorandum. We believe that it would be more appropriate for your Division to respond to this request as it involves administrative policy and identifiable taxpayers. Please forward your reply to the Mississauga District Office directly.
With respect to the legislative aspects, we agree with the opinion of the Mississauga District Office that technically there is no provision of the Act that provides for any addition to the adjusted cost base of the property owned by 24(1) as a result of the reassessment with respect to the 1987 and 1988 taxation years of 24(1) under subsections 56(2) and 15(1) of the Act.
DirectorReorganizations and Foreign DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch
cc. Mississauga District OfficeM. H. MerchantAudit Workload Development
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© Her Majesty the Queen in Right of Canada, 1992
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© Sa Majesté la Reine du Chef du Canada, 1992
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