Words and Phrases - "bonds, debentures, securities or other indebtedness"
MNR v. Peninsular Investments Ltd., 63 DTC 1149 (Ex Ct)
"interest on bonds, debentures ... or other indebtedness" excuded only interest deductible on general principles as on indebtedness incident to and incurred in the business' day-to-day transactions
The taxpayer, which was a non-resident-owned investment corporation that invested in shares and bonds, sought to deduct interest paid by it on a...
Words and Phrasesbonds, debentures, securities or other indebtedness
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|Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Financing Expenditures||financing of its transactions was not an integral part of the taxpayer's business||171|