O. Thompson, K.C., and Sandlands, for appellant.

Sir Malcolm Macnaghton, K.C., and T. Mathew, for respondent.

Durr, J.—The appellant company in 1920 sold its Thurlow Island timber limits at a price which was largely in advance of the moneys expended in acquiring them, part of which price was paid in 1920, part in 1921, and part, though not the whole of

Craig, K.C., for appellant.

C. Killam, for respondent.

AUDETTE, J.:—This is an appeal,—under the provisions of secs. 15 ef seq. of The Income War Tax Act, 1917, as more specifically amended by sec. 7 of 13-14 Geo. V, ch. 52,—from the assessment, for the year

IDINGTON, J.—This is an appeal by the said company from a judgment of the Court of Appeal for British Columbia dismissing an appeal from a special Court of Revision held at the city of Kaslo on the 30th of January, and following days, 1923.

Hamilton, K.C., for the appellant.

D. Donaghy, for the respondent.

Harris, C.J. (dissenting) :—The accused was charged before the stipendiary magistrate of the city of Halifax with failure on August 1 and 2, 1922, to make a return of his income for the year 1919 as required by sec. 8 of the Income War

ANGLIN, C.J.C.:—The question presented for determination in this appeal is whether the municipal tax to be levied upon the respondent trustee in respect of ‘‘income not wholly distributed annually,’’ as a basis for which assessment in respect of such income is

FERGUSON, J.A.:—The assessment was made in October, 1923, for taxes payable in 1924. In prior proceedings between the same parties, in reference to an assessment of McLeod by the city corporation in respect of the income received in 1920, it was determined

Davies, C.J.:—For the reasons stated by my brother Anglin, J., in which I concur, I am of the opinion that the appeal from the judgment of Orde, J., ante p. 551, 52 O.L.R. 562, should be dismissed, the costs, including those of the