Income Tax Act — I-3.3 127
nt, if any, by which (a) the amount, if any, by which (i) the total of all amounts added in computing its investment tax credit at the end of the year in respect of a property acquired, or an expenditure made, before that time exceeds (ii) the total of all amounts each of which is an amount (A) deducted in computing its investment tax credit at the end of the year under paragraph (f) or (g) of the definition investment tax credit in subsection 127(9), or (B) deducted in computing its investment tax credit at the end of the taxation year immediately preceding the year under paragraph (i) of that definition, to the extent that the amount may reasonably be considered to have been so deducted in respect of a property or expenditure in respect of which an amount is included in subparagraph 127(9.1)(a)(i) exceeds the total of (c) the amount, if any, by which its refundable Part VII tax on hand at the end of the year exceeds the total of all amounts each of which is an amount designated under subsection 192(4) in respect of a share issued by it (i) in the period commencing one month before that time and ending at that time, or (ii) after that time, and before the end of the year, and (d) that proportion of the amount that, but for subsections 127(3) and 127(5) and sections 126, 127.2 and 127.3, would be its tax payable under this Part for the year that, (i) if throughout the year the taxpayer carried on a particular business in the course of which a property was acquired, or an expenditure was made, before that time in respect of which an amount is included in computing its investment tax credit at the end of the year, the amount, if any, by which the total of all amounts each of which is (A) its income for the year from the particular business, or (B) its income for the year from any other business substantially all the income of which was derived from the sale, leasing, rental or development of properties or the rendering of services similar to the properties sold, leased, rented or developed, or the services rendered, as the case may be, by the taxpayer in carrying on the particular business before that time exceeds (C) the total of all amounts each of which is an amount deducted under paragraph 111(1)(a) or (d) for the year by the taxpayer in respect of a non-capital loss or a farm loss, as the case may be, for a taxation year in respect of the particular business or the other business, is of the greater of (ii) the amount determined under subparagraph 127(9.1)(d)(i), and (iii) its taxable income for the year. Loss restriction event after end of year (9.2) If a taxpayer is subject to a loss restriction event at any time (in this subsection referred to as “that time”) after the end of a taxation year of the taxpayer, the amount determined for the purposes of paragraph (k) of the definition investment tax credit in subsection (9) is the amount, if any, by which (a) the total of all amounts each of which is an amount included in computing its investment tax credit at the end of the year in respect of a property acquired, or an expenditure made, after that time exceeds the total of (c) its refundable Part VII tax on hand at the end of the year, and (d) that proportion of the amount that, but for subsections 127(3) and 127(5) and sections 126, 127.2 and 127.3, would be its tax payable under this Part for the year that, (i) if the taxpayer acquired a property or made an expenditure, in the course of carrying on a particular business throughout the portion of a taxation year that is after that time, in respect of which an amount is included in computing its investment tax credit at the end of the year, the amount, if any, by which the total of all amounts each of which is (A) its income for the year from the particular business, or (B) if the taxpayer carried on a particular business in the year, its income for the year from any other business substantially all the income of which was derived from the sale, leasing, rental or developmen