JACKETT,
P.
(orally)
:—In
this
appeal
by
the
appellant
from
its
assessment
under
Part
I
of
the
Income
Tax
Act
for
its
1963
taxation
year,
the
sole
question
at
issue
between
the
parties
is
whether
an
amount
that
is
taxable
by
virtue
of
Section
83A
(5b)
of
the
Act
was
‘‘received’’
by
the
appellant
in
1963
so
as
to
be
part
of
its
income
for
1963,
in
which
event
the
assessment
appealed
from
was
correct,
or
was
not
received
until
1964,
in
which
event
the
appeal
must
succeed.
The
amount
in
question
was
the
consideration
for
the
sale
of
certain
oil
and
gas
leases.
A
document
was
executed
in
1963
purporting
to
be
a
conveyance
of
those
leases
by
the
appellant
and
an
acknowledgment
of
receipt
of
the
consideration
by
the
appellant.
In
fact
the
consideration
was
paid
to
a
firm
of
solicitors,
acting
both
for
the
vendor
and
the
purchaser,
in
1963
and
was
not
paid
over
by
the
solicitors
to
the
appellant
until
1964.
The
assessment
is
based
on
the
assumption
that
the
payment
of
the
amount
in
question
to
the
solicitors
was
a
payment
to
them
as
agent
for
the
appellant
and
that
the
appellant
therefore
received
the
amount
in
1963.
Very
difficult
questions
arise
on
the
documents
and
the:
evidence
concerning
the
situation
as
far
as
the
title
to
the
leases
is
concerned
and
as
to
when
the
vendor
was
entitled
to
receive
the
consideration
for
the
sale.
I
am
not
concerned
with
those
questions.
I
am
satisfied
on
the
evidence
that
what
happened,
in
fact,
was
that
the
money
was
received
by
the
solicitors
in
1963
to
be
held
by
them
in
trust
until
the
assignments
were
registered
and
to
be
then
paid
over
to
the
appellant,
and
that
the
solicitors
did,
after
the
assignments
were
registered,
pay
the
money
to
the
appellant
in
1964.
It
follows
that
the
appellant
did
not
receive
the
money
until
1964
and
that
the
appeal
must
succeed.
The
appeal
will
be
allowed
with
costs
and
will
be
referred
back
to
the
respondent
for
re-assessment
on
the
basis
that
the
amount
in
question
was
not
received
in
1963.
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