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The computation of the tax in the appellant’s return, which forms part of the documents transmitted to the Registrar of this Court in compliance with section 63 of the Act, is made up as follows: Gross income $90,522.48 Deductions —.... 3,105.00 a. s $87,417.48 Less statutory exemption —.... $2,400 Allowance for 3 dependent chil- dren under 21 years of age at $500 each_.... 1,500 3,900.00 Income subject to tax $83,517.48 Tax 2__... $ 19,170.77 5% additional where net income in excess of $5,000 958.54 $ 20,129.31 The appellant paid this sum of $20,129.31 in due course. On February 18, 1935, the Commissioner of Income Tax sent to the appellant a notice of assessment for the year 1931 altering the amount of the tax; the statement included in the notice is made up as follows: Total income_.. $112,750.76 Deductions...- 3,105.00 $109,645.76 Statutory exemption $2,400 Dependents 1,500 3,900.00 $105,745.76 Tax......._ $ 27,035.93 Additional 5% tax.._...... 1,351.79 $ 28,387.72 Then comes a summary which reads thus: Tax Interest Total Amount levied $28,387.72 $ 1,428.09 $29,815.81 Amount paid on account- 20,129.31 20,129.31 Balance due $ 8,258.41 $ 1,428.09 $ 9,686.50 On February 26, 1935, the appellant’s solicitor wrote to the Commissioner of Income Tax in part as follows: I have just received from Mr. ... In its income tax return for 1931, Trinity Securities, Limited, indicated the nature of its business as ‘‘ Racing and Stud Farm ‘ ‘; in its returns for 1932, 1933 and 1934 it mentioned " ‘Invest- ments.’’ ...

The appellant argued that under the repealed enactment he had a right to make the additional conditional purchase and that this was a ‘‘right accrued” at the time the 1884 Act was passed and that notwithstanding the repeal it remained ‘ ‘ unaffected by such repeal”. ... In THE MATTER OF THE INCOME Tax Act & AMENDMENTS THERETO and Turpentine & RosiN Products Corp., Ltd. ... Official transcript, page 72): “... The Income Tax Department had caused such bad publie. relations for Turpentine & Rosin Products over the past six (6) years that they were driving them to bankruptcy. ...

In the year 1952, timber operations started and accordingly Caine Lumber Company produced its claim to a capital cost deduction, pursuant to Section 11(1) (a) hereunder of the Income Tax Act, based upon its own purchase price of $15,000. “11. (1) Notwithstanding paragraphs (a), (b) and (h) of subsection (1) of section 12, the following amounts may be deducted in computing the income of a taxpayer for a taxation year (a) such part of the capital cost to the taxpayer of property, or such amount in respect of the capital cost to the taxpayer of property, if any, as is allowed by regulation, ’ ’ The allowances referred to appear in Part XI of the Regulations, under the respective numeral and heading of 1100 and Schedule C. ... To the best of my understanding it underscored in Section 20(3) (a) of the Act the words *‘... in computing income for that or a previous taxation year...” going on to hold the expressions: ‘ that or a previous taxation year’’ as precluding all claims to subsequent deductions. ... Attorney General: ‘ [By Lord Cairns] I am not at all sure that, in a case of this kind—a fiscal case—form is not amply sufficient; because aS I understand the principle of all fiscal legislation, it is this: if the person sought to be taxed comes within the letter of the law he must be taxed, however great the hardship may appear to the judicial mind to be. ...

Portigal nor did he make use of the firm name of George Loos & Co. ... Portigal himself and to the name of George Loos & Co. as could be retained on Mr. ... In my opinion the nearest of the definitions to the meaning of “tangible” as used in the definition of Class 8 of Schedule B to Regulations is number (3) of the Funk & Wagnall definitions and I do not think that either goodwill or ‘ accounts ’ ’ constitute ‘‘a tangible capital asset’’ within the meaning of that expression in the regulation. ...

It reads as follows: ‘ ‘ THIS INDENTURE made in TRIPLICATE THIS 15TH DAY OF APRIL A.D. 1944. ... Morris stated frankly, ‘‘I don’t know that it was not his money ’ ’, and that she did not know what he did with the money. ... In any event, the appellant has completely failed to meet the onus cast upon him to establish that the assumptions on which the re-assessments were made upon him — namely, that he was entitled as owner to all the rents and profits — was erroneous. ...

Il y a, en effet, entre elle et les sociétés ordinaires, des différences très notables. ’ ’ Baudry-Lacantinerie, dans son Traité théorique et pratique de droit civil, vol. 1, 3e éd., ‘Du contrat de mariage’’, à la page 581, déclare: "637.... ... Ces règles sont exposées au chapitre intitulé ‘‘ De la communauté de biens’’. ... Championnière et Rigaud, Traité des droits d’enregistrement, vol. 4, No 2835, p. 6: “,.. ...

Article 1257 provides as follows: "All kinds of agreements may be lawfully made in contracts of marriage, even those which, in any other act inter vivos, would be void; such as the renunciation of successions which have not yet devolved, the gift of future property, the conventional appointment of an heir, and other dispositions in contemplation of death. ‘ ‘ Alfred Curzon Dobell and his wife Helen Maffett are separate as to property in virtue of their marriage contract. ... The legislation which is now sought to be applied originated in 1917, years after the ante-nuptial contract; and subsection 4 of section 4 of 7 & 8 Geo. ... It is not a debt under c. 8(2) (a) because it was not created ‘‘for full consideration in money or money’s worth ’ ’. ...

Then there is a second line of cases, so often referred to in support of cases where the Crown is claiming that the expendi- ture in question is one of a capital nature and not one made for the purpose of earning profits or gains, and I shall refer only to two or three of such cases, and the first one is that of Addie & Sons Ld. v. ... Kerwin and Hudson JJ. proceeded on the ground that the expenditure was " " a payment on account of capital, ‘ ‘ because it was made ‘‘with a view of preserving an asset or advantage for the enduring benefit of the trade’’. ... The Master of the Rolls there said: ‘ ‘ It is a payment made in the course of business, dealing with a particular difficulty which arose in the course of the year, and was made not in order to secure an actual asset to the company, but to enable them to continue, as they had in the past, to carry on the same type and high quality of business’’, and Lord Justice Sargent said that "‘it is quite impossible to put against the capital account of the company.... a payment of this nature. ...

For the purpose of this Act the capital employed in the business of an incorporated company having its head office or other principal place of business in Canada shall be the amount paid up on its capital stock. * * * * 3. ... Sec. 7, as amended, makes it clear that "‘the actual unimpaired reserve, rest or accumulated profits, held at the commencement of an accounting period * * * ‘ ‘ shall be included as part of the capital of an incorporated company as long as it is held and used by the company as capital, but any dividend paid during an accounting period shall be considered as a reduction of unimpaired reserve, rest or accumulated profits. ... It is of some significance that on the trading account for the preceding accounting period, 1918, we find the notation, "‘$500,000 carried as a secret reserve since prior to taxation period, ’ ’ under which appear the initials of Mr. ...

—Where, if section 24 were applicable in computing a non-resident person’s income, that section would require an amount to be included in computing his income, that amount shall, for the purpose of this Part, be deemed to have been, at the time he received the security, right, certificate or other evidence of indebtedness, paid to him on account of the debt in respect of which he received it. ’ ’ It is common ground between the parties that this was an arm’s length transaction. ...