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I-3 - Taxation Act
Section 191.3
Disposition versions
191.3. For the purposes of computing the income of a bank, the following rules apply:
(a) for the purposes of paragraph i of section 87 and section 92.22, any amount that was recorded by the bank as a realized loss or a write-off of an asset and that was included by the bank in the calculation of an amount deductible under the Minister’s rules, or would have been included therein if such a calculation had been required, for any taxation year before its first year is deemed to have been deducted under section 141 in computing its income for the year for which it was so recorded;
(b) for the purposes of section 92.22, any amount that was recorded by the bank as a recovery of a realized loss or a write-off of an asset and that was included by the bank in the calculation of an amount deductible under the Minister’s rules, or would have been included if such a calculation had been required, for any taxation year before its first year is deemed to have been included under paragraph i of section 87 in computing its income for the year for which it was so recorded.
