Létourneau J.A.:

This is an appeal pursuant to subsections 172(3) and 180(1) of the Income Tax Act (Act) from a decision of the Minister of National Revenue made under paragraph 168(1)(b) of the Act and dated July 12, 1996 to revoke the Appellant’s registration (Maccabi Canada) as a registered Canadian amateur athletic association.

JUDSON, J.:—This is an appeal by the Minister of National Revenue from the judgment of the Exchequer Court which allowed an appeal from the decision of the Tax Appeal Board. This decision had rejected the taxpayer’s contention that he was entitled in

Pratte, J:—This appeal is concerned with the right of respondent to deduct, in computing its income for the taxation years 1967 and 1968, certain amounts in respect of the capital cost of property previously owned by it for the purpose of gaining