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In finding that the Superior Court had the jurisdiction to provide that the super-priority charge ranked ahead of the deemed trust for the federal source deductions under ITA s. 227(4.1) (as well as the Quebec equivalent), Schrager JA noted: Canada North decided that CCAA courts could grant super-priority charges ranking in priority to s. 227(4.1) deemed trusts Callidus indicated that the “proposal provisions in the BIA serve … the same remedial purpose as those in the CCCA – i.e., the financial rehabilitation of an insolvent corporate debtor” and “to the extent possible, the two statutes should be treated in a harmonized fashion” (para. 46). Regarding the Attorney General’s argument- that BIA s. 50.6(3), which provided that the “court may order that the … charge rank in priority over the claim of any secured creditor,” did not apply because s. 227(4.1) did not create a security interest- “it would seem nonsensical in the overall scheme of the BIA that a court could order that the interim lending charge take priority over the claim of any hypothecary or mortgage creditor but not over the claim of an unsecured creditor benefiting from a sui generis non-proprietary right akin to a floating charge, that is, the ITA Deemed Trust” (para. 51). ...

. … After noting (at para. 24) that an alternative interpretation was that “s. 79(7) is interpreted as simply a provision, in cases involving loss carry backs, that postpones the date when the deduction in the tax payable arises, and thus when interest would begin to accrue,” he found in favour of the latter interpretation, stating (at paras. 26, 29-30): On that point, the respondent’s reliance on the principle that governments have the right to legislate illogically is not a persuasive one. It is also not a principle of statutory interpretation to be readily invoked. … [T]here is a manifest error in the interpretation … that the appellant would be disentitled to any interest payment. That result is not only manifestly unfair, it is directly contrary to the legislative context in which the interest payment provisions were adopted more than 60 years ago. … The language in s. 79(7) is not unambiguous when read in its entire context. ...

Pagone J stated (at paras. 6, 8, 11, 12 and 33): … The inquiry into derivation is not into whether an entitlement to receive has arisen or whether an amount has been received, although both entitlement and receipt may be relevant in determining whether there has been derivation. ... That the interest income had been derived upon accrual, … is not denied by the fact that … “SRC made only 2 loan advances in 10 years, and occasionally provided other financial accommodation in other forms”. ... There was no suggestion on the evidence that payment of the accrued interest income from its parent was uncertain. … [T]he lending of money and the provision of financial accommodation for reward to its parent company was part of its business or income earning activities. ...

Aubé JCQ found (at paras 69.1, 69.5, 69.6, 70, 71, and 72, Tax Interpretations translation): … [T]he whole family was involved in the project. … The profit realized on the sale was used to reimburse the lines of credit. ...

At issue was whether the full assessed amount qualified as an “amount payable, within the meaning of subsection 223(1) of the Income Tax Act … by an individual,” in which case s. 172.1 of the Bankruptcy and Insolvency Act, which provided more onerous conditions for the discharge of an individual with substantial amounts of such “personal income tax debts,” would have been applicable. ... The assessed amount can change from time to time by virtue of judicial decisions or new assessments: Terra Nova Properties … [1967] 2 Ex. ...

The judge below concluded that all SKAT's claims were inadmissible as a consequence of the revenue rule (“Dicey Rule 3”), which was expressed as follows by Sir Julian Flaux, Chancellor as follows (at para. 1): English courts have no jurisdiction to entertain an action … for the enforcement, either directly or indirectly, of a penal, revenue or other public law of a foreign State. ... It is a claim to recover monies which had been abstracted from SKAT’s general funds by fraud. … [T]he fraud here was not fraud by the taxpayer in evading tax. There was no tax due and those who committed the fraud were never taxpayers. … [W]hat SKAT is saying entitles it to repayment is not that the … Applicants or the alleged fraud defendants owe it tax or have cheated it out of tax, but that it was induced by fraudulent misrepresentation to pay away monies to these persons to which they were not entitled on any basis. ...

The statutory language (quoting for convenience from s. 120.4(5)) relevantly required that an “amount can reasonably be considered to be attributable to a taxable capital gain … of a trust from a disposition of shares … that are transferred, either directly or indirectly, in any manner whatever, to a person with whom the specified individual does not deal at arm's length….” ... [S]ection 766.7.2 can only be interpreted and have meaning when there are two legal transactions related to the shares, namely, first, the disposition of the shares that will subsequently be transferred to generate an amount that could reasonably be considered to be attributable to a taxable capital gain …. ...

However … assumptions pleaded must be the assumptions actually made …. ... He further stated (at para. 60): I endorse the principle … in Preston that tax assumptions containing statements of mixed fact and law will not be invalidated simply on that basis if the factual underpinnings are clearly stated, there is no dispute about the legal principles and no prejudice results. ...

. … The fact that there was no certainty that the Oxxio business would be sold does not make the expenditure revenue in nature. … Indeed, expenditure on an abortive capital disposal transaction is capital expenditure nonetheless …. ...

Profit- Real Estate conversion of bush lot into fully serviced housing lots was a business – cf. if merely subdivided The taxpayer (Moluch) acquired 55 acres of bushland in 1937, part of which he cleared and farmed. ... He took the raw land which he owned and by the expenditure of money and effort he ended up possessing a number of fully serviced residential lots for sale. … The facts in the McGuire case [56 DTC 1042] are distinguishable … in that there the effect of filing a plan of subdivision was merely to divide the land into a number of smaller parcels which were sold piecemeal without effecting any physical change in the land, whereas in the present appeal, the character of the raw land was changed to that of serviced lots by the expenditure of considerable effort and money, in addition to the land being divided into a number of smaller parcels. ...