Mahoney, J:—The issue is the fair market value on Valuation Day, December 31, 1971, of ten shares of a private company, Halifax Parking Limited, hereafter “HPL’’. Those shares represented 10% of HPL’s outstanding shares. They were treasury shares acquired by
Collier, J:—The facts in this income tax appeal are unusual.
Collier, J:—For the plaintiff’s taxation year which ended April 30, 1971, the Minister of National Revenue included in taxable income an amount of $671,065. The Minister took the view this sum represented the proceeds of disposition of depreciable property,
Collier, J:—At the conclusion of the hearing I said the plaintiff’s appeal would be allowed. Written reasons would be later given. Those reasons now follow.
Dubé J:—This is an appeal from the decision rendered on September 16, 1975 by the Tax Review Board, dismissing plaintiff’s (appellant’s) appeal against his income tax assessment for 1971.
Smith, DJ:—This action came before the Court on July 12, 1978, by way of appeal from a decision of the Tax Review Board, dated January 31, 1977, which allowed the appeal of the defendant from an assessment for income tax with
Dubé, J:—Plaintiff is a corporation incorporated under the laws of the province of Quebec carrying on the business of manufacturing and selling newsprint, sulphite and groundwood pulp.
Walsh, J:—This action was joined for hearing with T-1831-76 Gladstone Investment Corp and Her Majesty the Queen, the facts and legal issues being the same except for the amounts added back to income by the Minister for the 1969 and 1970 taxation
Grant, DJ:—It is my conclusion that the decision of Chairman Fianigan of the Tax Review Board herein is correct. Besides the matters referred to in his judgment, the following evidence lends weight to his decision. Exhibit 6 is a memorandum made by
Martin, JA:—The Attorney General of Canada applies for leave to appeal and, if leave be granted, appeals from the decision of Mr Justice Labrosse, dismissing an appeal by the Attorney General of Canada by way of stated case from an order of
