alleryStart learning →Under section 99, in testing whether a tax benefit exists, an accommodating party may be:
AGranted a refund
BMade a co-assessee
CTaxed separately
DWholly disregarded
Answer & Solution
Correct answer: D. Wholly disregarded
Section 99(ii) allows the accommodating party to be disregarded, and also to be treated as the same person as another party.
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