Précis: Mr. Khattar claimed fictitious business losses in 2008 ( as well as loss carry backs to the three preceding taxation years) on the advice of his tax preparer, Mr. Rasool. CRA denied the losses and imposed gross negligence penalties. The only point at issue in this appeal were the penalties.
Khattar v. R. - TCC: Taxpayer subject to penalties for claiming fictitious business lossesREAD MORE »