David v. The Queen, 75 DTC 5136, [1975] CTC 197 (FCTD)

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Summaries

Summary Under

Evidence of the subsequent conduct of the purchasers was admissible, in considering the possible application of s. 245(2) to the vendors, as part...

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Summary Under

As a result of transactions wherein the shares of a company held by the taxpayers were purchased on behalf of a pension plan which then caused the...

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Summary Under

proceeds from the sale of cash-rich company to pension fund for wind-up 5 months later were "otherwise appropriated ... on the winding-up"

Approximately four months after the corporation of which the taxpayers (the "David group") were shareholders sold its principal business assets,...

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