Précis: The Kruger decision was blogged earlier on this site. It dealt with whether Kruger could mark to market in its 1998 taxation year foreign exchange contracts it had either purchased or written. Put very simply, the Court decided that it could mark to market contracts it had acquired from third parties but not those written from its own treasury - a classic case of mixed success. This was a decision on costs in that case. The very odd aspect of this case was that once the numbers were reworked for 1998 in light of the Tax Court’s decision there was no reduction in the tax payable.
Kruger Inc. v. R. - TCC: In odd fact situation Crown allowed expert fees and 50% of its costsREAD MORE »