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.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
950069
XXXXXXXXXX David R. Senécal
Attention: XXXXXXXXXX
February 10, 1995
Dear Sirs:
Re: Paragraph 111(4)(e) of the Income Tax Act (the "ACT")
This is in reply to your letter of October 27, 1994, wherein you request certain affirmations with respect to the application of paragraph 111(4)(e) of the Act and a designation made thereunder.
In view of the fact that, in subsection 248(1) of the Act, the term "assessment" is defined as including a "reassessment", it is our position that a corporation is permitted to file an amended designation within 90 days from the later of the date of mailing of a notice of assessment for the taxation year ending with the acquisition of control and the date of mailing of a notice of reassessment, if any, for that year.
We trust that our comments will be of assistance to you.
Yours truly,
for Director
Reorganizations and Foreign Division
Rulings Directorate
Policy and Legislation Branch
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