Anticipated losses can be deducted for business income; interest rate swap losses are deductible.

Just because anticipated profits are not assessed to tax, it would not follow, as a corollary thereto, that anticipated losses cannot be allowed as deduction in computation of business income - loss on valuation of interest rate swap is to be allowed as a deduction in computation of business income, - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X