Introduction Overview Chapter 3: Charge to tax in case of loan to participator Section 464: Section 463: other person treated as releasing or writing off debt
1424.This section supplements section 463. It is based on section 422(5) of ICTA.
1425.Subsection (1) states when the section applies. It operates in relation to section 459 for the reason given in the commentary on section 460(2) and (3).
1426.Subsection (2) is the operative provision.