Taylor, TCJ [ORALLY]:—The appeal of Lou Lokash & Associates Ltd for the year 1976 was withdrawn by counsel for the appellant at the commencement of the hearing and is dismissed for want of prosecution.

Tremblay, TCJ:—This case was heard on December 9, 1982, at the City of Winnipeg, Manitoba.

Tremblay, TCJ:—This case was heard in Winnipeg, Manitoba on December 7, 1982.

Tremblay, TCJ:—This case was heard in Sydney, Nova Scotia on August 2, 1983.

M J Bonner [ORALLY]:—This is an appeal from an assessment of income tax for the 1976 taxation year. Two main issues arise:

Bonner, TCJ [ORALLY]:—The appellant appeals from assessments of income tax for the 1977, 1978 and 1979 taxation years. On assessment the Minister disallowed deductions of the losses sustained by the appellant in his horse racing and raising activities.

Christie, CJ:—The appellant appeals regarding interest levied against him in relation to his 1980 taxation year and a late filing penalty for the same year. The interest was imposed pursuant to subsection 161(1) of the Income Tax Act

Tremblay, TCJ [TRANSLATION]:—This case was heard on April 11, 1983 in the city of Montreal, Quebec.

Tremblay, TCJ [TRANSLATION]:—This case was heard on June 27, 1983 in the city of Montreal, Quebec.

Taylor, TCJ [TRANSLATION]:—This is an appeal that was heard on June 13 and 14, 1983, at Montreal, Quebec, from an income tax assessment for 1976 in which the Minister of National Revenue taxed a sum of $125,000 from the sale of an