THE
Chief
JusTICE
(all
concur)
:—This
is
an
appeal
from
a
judgment
of
Cattanach,
J.
pronounced
on
February
28,
1967,
dismissing
the
appellant’s
appeal
and
allowing
the
respondent’s
cross-appeal
from
a
decision
of
the
Chairman
of
the
Tax
Appeal
Board
and
restoring
the
assessment
made
by
the
respondent
in
respect
of
the
appellant’s
1961
taxation
year.
The
issue
for
determination
is
whether
$72,031.65
of
the
total
purchase
price
of
$104,664.04
paid
by
the
appellant
to
acquire
the
business
of
Adolph’s
Taxi
Co.
Ltd.
was,
as
contended
by
the
respondent,
for
the
acquisition
of
something
other
than
depreciable
property
or,
as
contended
by
the
appellant,
for
either
automotive
equipment
within
the
meaning
of
Class
10,
Schedule
B
to
the
Income
Tax
Regulations
or
for
a
licence
for
a
limited
period
in
respect
of
property
within
the
meaning
of
Class
14,
Schedule
B.
The
relevant
facts
and
the
submissions
of
the
parties
are
set
out
in
the
reasons
of
the
learned
Exchequer
Court
Judge.
After
a
consideration
of
the
arguments
of
counsel
and
the
authorities
to
which
they
made
reference
I
find
myself
so
fully
in
agreement,
not
only
with
the
conclusion
of
the
learned
Exchequer
Court
Judge
but
also
with
his
reasons,
that
I
am
content
simply
to
adopt
them.
I
would
dismiss
the
appeal
with
costs.
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