Search - 屯门 安南都护府

Styles, 2 T.C. 239, which decision was rendered in 1887 and which was referred to in John Smith & Son v. ... -ni ‘ NICHOLAS DETORO, Appellant, and MINISTER OF NATIONAL: REVENUE, Respondent. ... He later added that selling the business to Wong and Lee ‘‘1s one way of getting them to remain with me ’ ’ which, however, by making them independent would appear to me to be the best way to defeat his purpose. ...

The head office of the company was fixed as being in the Township of Sandwich West and the objects for which incorporation was obtained read in part as follows, ‘‘to acquire by purchase, exchange, concession or otherwise lands and premises’’ and here is inserted the precise description of the lands conveyed by Dominion to Eastern, ‘‘and to develop thereon a shopping centre and, without limiting the generality of the foregoing, for that purpose to lay out parking areas and to erect stores, shops, offices, restaurants and buildings of every description and to own, operate and maintain the same and to rent, lease, mortgage or otherwise charge or encumber the same or any part thereof ’ ’. ... A letter dated October 14, 1955, Exhibit 13, was written to John Penturn & Son Limited, realtors of Toronto, Ontario offering to sell land for an office building as well as for a department store. ... The cumulative effect of the foregoing facts leads me to the conclusion that the appellant was not engaged in an adventure or concern in the nature of trade and that the profit realized by the appellant on the sale of its shopping centre did not constitute 11 a gain made in an operation of business in carrying out a scheme for profit-making ’ ’ within the meaning of that expression as used by the Lord Justice Clerk in Californian Copper Syndicate (Limited and Reduced) v. ...

Holdings Limited and the book value thereof taken from the balance sheet as at December 31, 1965 (Exhibit 82) were as follows: Debt from Brantford Coach and Body re current inventory $114,205 Accounts receivable 337,662 Farm Implement accounts and notes receivable 85,910 Inventory on consignment and used trailers and repossessed farm implements 725,906 Mortgages receivable 175,000 Manufacturing and distribution facilities held for sale 490,517 Prepaid Expenses 37,440 Total $1,966,640 Less: Accounts payable and accrued liabilities assumed- $ 67,707 Provision for losses on termination of coach and body operations 75,000 $ 142,707 $1,823,933 This value coincides with the value of the promissory note received by Deltona of Canada Limited from T.D.C. ... Holdings 1,823,933.54 $3,209,158.67 Liabilities NIL Shareholders’ Equity Capital stock $ 700,000.00 Earned surplus 2,509,158.67 $3,209,158.67 The foregoing assets of Deltona of Canada Limited are then in liquid form. ... As previously there were two companies and after the issue of the letters patent there is only ‘ ‘ one company ’ ’, it seems to follow that that ‘‘one company” is a company that did not previously exist and that came into existence at that time. ...

This sale, according to paragraph 6 of the Notice of Appeal, was expected ‘ 1 to bring greater prestige to the balance of appellant’s holdings and further his plans for extensive building thereon’’. ... And, again, in the ensuing paragraph on page 3: ‘ Respondent submits that the approval of the Treasury Board was a prerequisite to the existence of a binding agreement between the Crown and the Appellant and that prior to such authority being granted on February the 11th 1955, there was no legal obligation binding on the Crown to pay the amount in question...” ... It would appear, therefore, that in enacting this subsection, Parliament has extended somewhat the ordinary concept of ‘ income ’ in relation to a business in which property is sold or services rendered and that from and including the 1953 taxation year, every amount to be received in respect of property sold or services rendered in the course of the business in the year shall be included notwithstanding that the amount is not to be received until a subsequent year, subject, of course, to the proviso and to the provisions of paragraph (d) thereof relating to the deduction of a reasonable amount as a reserve in some cases. ...

Some time later in 1951, Boem and Andreoli sold parts of their interest in the association to George Lipson, Jack Jacobson and Eddy & Son Construction Limited, the nominee of E. ... In the same line of reasoning, Duff, J., in Robert Porter & Sons Limited v. ... ’ ’ When the respondent joined the partnership and made the necessary outlay to acquire a one-third interest in it, he no doubt expected a return on his investment. ...

This amount is refundable upon receipt of the complete rebuild able used engine in the original shipping crate. ’ ’ On a typical page among those dealing with prices one finds at the top of the page: ‘ 1 Model for Model Exchange Engine price list” and below in several columns the core deposits, suggested retail and trade prices and dealers net prices in respect of various models of engines. ... Subject to the other provisions of this Part, income for a taxation year from a business or property is the profit therefrom for the year. 85B. (1) In computing the income of a taxpayer for a taxation year, (a) every amount received in the year in the course of a business (i) that is on account of services not rendered or goods not delivered before the end of the year or that, for any other reason, may be regarded as not having been earned in the year or a previous year, or (ii) under an arrangement or undertaking that it is repayable in whole or in part on the return or resale to the taxpayer of articles in or by means of which goods were delivered to a customer, shall be included; (b) every amount receivable in respect of property sold or services rendered in the course of the business in the year shall be included notwithstanding that the amount is not receivable until a subsequent year unless the method adopted by the taxpayer for computing income from the business and accepted for the purpose of this Part does not require him to include any amount receivable in computing his income for a taxation year unless it has been received in the year;... ” With respect to the interpretation of these paragraphs Section 85B(2) provides that “85B. (2) Paragraphs (a) and (b) of subsection (1) are enacted for greater certainty and shall not be construed as implying that any amount not referred to therein is not to be included in computing the income from a business for a taxation year whether it is received or receivable in the year or not.’’ ...

The property was called ‘‘ Cloisters on the Don’’. In 1963 the partnership commenced construction of 2 apartment towers, containing 212 suites. ... The question for determination is whether the profit realized by the appellant from the sale of the property was income from a ‘‘business’’ within the meaning of that word in Section 3 of the Income Tax Act, as extended by Section 139(1)(e), which includes a ‘‘trade, manufacture or undertaking of any kind whatsoever’’ and ‘‘an adventure or concern in the nature of trade ’ ’. ... That presumption may, of course, be negatived by the evidence as was done in the case of Sutton Lumber & Trading Company v. ...

L’emploi des verbes construire et agrandir ’ ’ démontre clairement que le bâtiment acheté en 1953, acquérait en 1961, des proportions beaucoup plus considérables que celles de naguère, consistant en des construction immobilières de nature permanente qui augmentaient d’autant l’actif capitalisé de la compagnie. ... Il n’est pas douteux que le sous-paragraphe (c) ci-dessus qualifie exactement le ° bénéfice ou avantage’’ attribué par sa compagnie à son actionnaire-propriétaire, le favorisant d’une plus-value, de nature immobilière, qui permit à St-Germain de réaliser, le 9 août 1962, lors de la vente de sa fabrique, un profit net de $157,794.01. ... Cette remarquable progression assura une appréciation adéquate à St-Germain qui, au moi d’août, 1962, vendait à la Maison Bienvenu Limitée, de Montréal, les 313 actions de Superior Glass Window au prix de $318,131, ainsi que les terrains et immeubles dans lesquels cette copagnie opère”, à un coût de $275,000, puis, encore, contre remboursement d’une somme de $56,869, ‘‘.. avances qui me sont dues par Superior Window Co. ...

It will not, however, be necessary to determine here whether such an interest is proprietary or leasehold because, although clause IV of the lease states that the lease shall be an emphyteutic lease and that generally the emphyteutic lease rules will apply, it also says that such rules will apply only unless ‘‘... specifically derogated therefrom’’ and there have been some important derogations in this case. ... This, however, indicates that an emphyteusis in Quebec conveys a right ‘ ‘… rem’’ whereas an ordinary lessee would only have a right ‘‘in personam’’ and cannot form the subject of a fixed charge under a bond issue. In clause VIII (second page) it is stated that in the case of non-payment of the rent or taxes, etc., after the defaults of the lessee have run their course and have not been rectified after the notices “.... all buildings and improvements on the land shall become and be the property of the Seminary...’’ which, of course, indicates that until then, the Seminary is not the owner of the building. ...

These clauses of the agreement deal with the object of the transaction, to wit, the right to cut and remove timber from the appellant’s lands during a period of six years for a total consideration of $100,000 to be completely paid by or on July 1, 1956, notwithstanding any other stipulation of the agreement, in the words of the document, ‘ and in any event... the amounts shall be paid not later than the dates specified’’. ... On appeal to the Exchequer Court, Ritchie, J., held (inter alia), That the 1950 sale of the cutting rights to the merchantable timber was a sale of the residue of the mature timber crop and was made in the course of carrying on a business of dealing with timber either by logging operations conducted by the appellant itself or by the selling of stumpage; That the 1952 sale by the appellant of the freehold lands was the sale of a capital asset purchased with a view of realizing a profit from logging them and not for the purpose of resale at a profit. ’ ’ In the first instance, the profit realized for the transaction was held to have been made in the course of carrying on a business and taxable, on the ground, I believe, that the company’s business was logging and dealing in timber. ... & Co. Ltd. v. M.N.R., [1957] C.T.C. 190, in which Thurlow, J., analyses the difference between the sale of the cutting rights and the sale of the timber itself. ...