Tax Court of Canada: Invokes SAAR; 'Tax reduction', main reason for appellant's separate existence

Mar 12,2019

Tax Court of Canada invokes Specific Anti Avoidance Rule [SAAR] in case of appellant [one of the Kal Tire group of companies, Canada's leading tire dealer] to deny 'small business deduction' u/s. 125 of the Canadian Income-tax Act; The tire business was established by the Late Tom Foord and was carried on by a large number of companies and subsidiaries, Mr. Foord's interest in the Kal Tire Partnership was held indirectly through a company called Kal Tire Holdings ...

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