in respect of the year

MNR v. Mid-West Abrasive Co. of Canada Ltd., 73 DTC 5429, [1973] CTC 548 (FCTD) -- summary under Paragraph 20(1)(c)

Full Title
MNR v. Mid-West Abrasive Co. of Canada Ltd., 73 DTC 5429, [1973] CTC 548 (FCTD)
Summary Under
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c)
contingent interest is not payable in respect of the year

The taxpayer during its 1960 and 1961 taxation years borrowed $210,000 from its U.S. parent. The promissory notes stated "interest will be paid if...

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in respect of the year
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