"If someone abandons their dog and we trace the microchip back to them, they should be reported for animal neglect, because there is no valid excuse for it." She pointed out that just this week, the shelter received five dogs, although the microchips could not be traced back to the owners, because their phones are switched off.
Summary: With the increase in expats returning home for the summer, many pets are found abandoned on the streets
n A woman abandons a one-and-a-half-year-old child at the Union Cooperative Society supermarket in Hatta
Little did they know what was inside it u a baby had been abandoned.
They believe, incorrectly, that the clause will be upheld if a contractor fails to complete or abandons a project rather than fails to meet the agreed upon completion date.
A "liquidated damages clause addressing potential failure to complete or project abandonment by the contractor"--This requires that the owner's contract include language such as: "The contractor acknowledges that the owner will suffer damages if the contractor either (1) fails to complete the project within the specified time noted in the schedule, or (2) abandons the project or its work prior to substantial or final completion."
When a company abandons a mine site but stays in business, lawsuits can be brought by government agencies, individuals, and nonprofit groups to remediate the environmental damage.
For many of these abandoned mines there is no longer a company that can be held responsible for the environmental damages they cause.
Expenditures "made with the contemplation that they will result in the creation of a capital asset cannot be deducted as ordinary and necessary business expenses even though that expectation is subsequently frustrated or defeated....(41) If the taxpayer subsequently abandons the project, the preliminary capitalized expenditures may then be deducted as a loss under section 165.
Although INDOPCO clarified the law as it pertains to target corporations in successful friendly takeovers, issues remain regarding the deductibility of expenses related to failed or abandoned transactions, expenses related to fighting hostile takeovers, expenses related to searching for white knights, expenses related to divisive reorganizations, expenses related to proxy fights, and costs of obtaining financing to redeem shares to prevent a hostile takeover, among others.
If a partner with potential "recapture" in his capital account abandons his partnership interest when sale or exchange treatment applies, he generally will recognize capital gain to the extent of that recapture.
To substantiate that an asset was abandoned, a taxpayer must demonstrate that he intended to abandon the asset coupled with an affirmative act of abandonment.
If the taxpayer abandons
a contract that is capital in nature to enter into another capital contract, the costs will not relate to an abandonment and thus qualify as a deductible loss.
Example 1: S abandons
her interest in the XYZ partnership at a time when her basis is $20,000 and she has no share of partnership liabilities under Sec.
Therefore, it appears that a capital loss will occur when a partner abandons
his partnership interest if