Heald, J:

1 The plaintiff is a body corporate incorporated in January of 1958 pursuant to the laws of the Province of Quebec.

Mahoney, J:

1 The issue is whether a gain realized on the disposition of real estate is taxable as income or not taxable as a gain on realization of a capital asset. The plaintiff is, and at all material times has been, a private company incorporated in British Columbia, 75% of whose shares are owned by Karel Alston and 25% by Alston's wife.

The Assistant Chairman:

1 This appeal of Charter Industries Limited is from income tax assessments in respect of the 1969, 1970 and 1971 taxation years and was heard in Montreal on September 16, 1975.

The Assistant Chairman:

1 This is the appeal of Dr Henry T Wyatt from an income tax assessment in respect of the appellant's 1970 and 1971 taxation years.

Judge Flanigan (orally: April 8, 1974):

A W Prociuk (orally: October 22, 1974):

A J Frost:

1 This is an income tax appeal in respect of the appellant's 1972 taxation year.

2 The appeal was set down for hearing on April 18, 1975, and subsequently adjourned pending the filing of written submissions on the understanding that the Board would then render its decision based on the information contained in the said submissions.

Addy, J:

1 The defendant, a duly licensed wholesaler within the meaning of the Excise Tax Act, RSC 1952, c 100, purchased in November and December 1967, as it had in the past, its inventory of steel from a Canadian importer. The amount paid for the steel to the Canadian supplier included $14.60 per metric ton for ocean freight charges. The transportation costs were shown as a separate item on the invoices of the defendant's supplier.

Heald, J:

A J Frost (orally: June 3, 1975):

1 I shall now give my decision in respect of the 1970 and 1971 taxation years.

2 The question at issue is whether or not the amounts claimed as business deductions in respect of payments made under an agreement executed in March of 1968 relating to the purchase of the law practice of one A J McNab were of a capital or a revenue nature.