D’Anjou – Tax Court of Canada finds that a taxpayer should have been informed by a similar loss in the Court of Quebec

In connection with finding that the taxpayer had made a misrepresentation attributable to neglect when he had treated the adjusted cost base of a property he had sold as having been increased by alleged expenses such as municipal and school taxes and financing expenses incurred during the holding of the property, Favreau J noted in particular that the same types of ACB adjustments had been denied for the disposition by the taxpayer of another parcel of vacant land by the Court of Quebec in 2008 QCCQ 7197. The year of disposition thus was validly reassessed beyond the normal reassessment period.

Neal Armstrong. Summaries of D’Anjou v. The Queen, 2019 CCI 208 under s. 152(4)(a)(i) and s. 54 – ACB.