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It was agreed that the terminal was under construction in the years 1980 — 1986, inclusive. For the taxation years 1980 — 1986, inclusive, the appellant Saskatchewan Wheat Pool claimed capital cost allowance, and for the taxation years 1980— 1985, inclusive, investment tax credits, on its portion of the capital costs of the terminal. ... Subsection 127(5) provides for investment tax credits whereby there may be deductions from taxes otherwise payable: 127. (5) There may be deducted from the tax otherwise payable by a taxpayer under this Part for a taxation year an amount not exceeding the lesser of (a) his investment tax credit at the end of the year, and (b) the aggregate of (i) $15,000, and (ii) '/ the amount, if any, by which the tax otherwise payable by him under this Part for the year exceeds $15,000. ...

The respondent, in paragraph 9(1) of its reply to the notice of appeal, alleged that the assessment attacked by the appellant had been made on the assumption that the acquisition of 167 shares in Siebens Leaseholds Ltd, the acquisition of an inventory of petroleum and natural gas leases by Siebens Leaseholds Ltd and the trading therein, the negotiations with respect to certain of these leases owned by Siebens Leaseholds Ltd, the incorporation of Siebens Oil & Gas Ltd, with the transfer of all the assets and liabilities of Siebens Leaseholds Ltd thereto, and the sale of the shares of Siebens Leaseholds Ltd at a time when its assets included only specific leases sought by Canadian Export Gas & Oil Ltd, were part of a scheme for profit-making by the Appellant and the two other shareholders of Siebens Leaseholds Ltd; The appellant did not challenge the allegation that the respondent had, in assessing, assumed those facts. The onus was therefore on the appellant to disprove them.* [3] In particular, the onus was on the appellant to disprove the assumption “that the acquisition of 167 shares in Siebens Leaseholds Ltd..and the sale of the shares of Siebens Leaseholds Ltd at a time when its assets included only specific leases sought by Canadian Export Gas & Oil Ltd, were part of a scheme for profit-making by the appellant...”. ...

Canada Wire & Cable Ltd. (1984), 81 C.P.R. (2d) 39 at 45: Optical waveguides are used for the transmission of light waves. ... " How well such a definition accommodates glass fibre is shown by the fact that even by 1983, Webster's Third New Collegiate Dictionary includes the following in its definition of "cable": “... something resembling or fashioned like a cable'a fibre-optic [cable]'". ... Commissioners of Inland Revenue [[1897] 1 Q.B. 175 at 182]: The rule of construction which is called the ejusdem generis doctrine or sometimes the doctrine “ noscitur a sociis” is one which, I think, ought to be applied with great caution because it implies a departure from the natural meaning of words in order to give them a meaning which may or may not have been the intention of the legislature. ...

This appeal concerns the Pool’s right to claim inventory allowance in connection with its dealings for the Canadian Wheat Board in high quality grains (of a quality graded higher than feed grain — often referred to as “Board grains’’). ... But, the appellant contends — and its whole case rests on that contention — that in spite of the terms the parties used in their contract, and whatever intention or comprehension they may have had at all times, what they actually did was to create between them the relations of vendor and seller. ...

Then the subsection, by its reference to subsection (1), applies to such proceedings the laws relating to prescription and the limitations of actions in force — in this case in Manitoba and for the present purposes taken to be six years. ... For the Company it is pointed out that since prescription did not then apply to the Crown, the phrase “at any time” should not be given a meaning that would be merely a vague affirmation of the Crown’s prerogative — that would be an absurdity — but should be assigned a meaning that would give it some reasonable function in the operation of the 1915 statute. ...

Reichmann & Son Limited and Webb & Knapp (Canada) Limited in connection with the acquisition of Flemingdon Park. ON MOTION duly made, seconded and unanimously carried, it was RESOLVED — 1. ...

Counsel for the appellant relied in large part in his submissions before this Court on the judgment in the Supreme Court of Canada in The Queen v York Marble Tile & Terrazzo Ltd, [1968] S.C.R. 140; [1968] CTC 44; 68 DTC 5001. ... For the foregoing reasons, the appeal should be dismissed with costs. 1 eg The Royal Bank of Canada v D/MNR, [1979] CTC 342; 79 DTC 5263. 2 The Royal Bank of Canada v DMNR, supra. see also: The King v Pedrick & Païen (1921), 21 Ex CR 14. ... The King v Shelly, [1936] 1 DLR 415; [1935-37] CTC 48; 1 DTC 298. 3 T Statement of evidence of Dr James F Richards, pp 9 & 10. 4 In that connection, while there is no evidence on the record to substantiate the view, I think it inconceivable that a housewife would dream that she could be described as a manufacturer or processor in the preparation of meals for her family, an operation which differs only in scale from that performed by the chef in a restaurant’s kitchen. ...

It is convenient to deal first with the claims against the defendants other than the Crown — that is, the issues raised by the appeals of the defendants Davidson and Morrison and by the plaintiff’s cross-appeal against the order Striking out the statement of claim and dismissing the action as against the defendants Wilkie, Smith and Statham. ... The other question raised by the appeals and the cross-appeal — whether, apart from the question of jurisdiction, the statement of claim discloses a reasonable cause of action against these defendants — may be treated as alternative to the question of jurisdiction. ...

I — The Canada-US Reciprocal Tax Convention. The appellants’ first argument is based on article I of the Convention which, according to Mr Vineberg, must be interpreted as providing that a resident of the United States who has no permanent establishment in Canada cannot be taxed in Canada on his commercial and industrial profits. ... II — Section 85B of the Act In order to understand the last argument submitted on behalf of the appellants, it is first necessary to have in mind some of the provisions contained in section 85B of the Income Tax Act: Sec 85B (1) In computing the income of a taxpayer for a taxation year, (b) every amount receivable in respect of property sold... in the course of business in the year shall be included notwithstanding that the amount is not receivable until a subsequent year... ... For these reasons, I would allow the appeal in part, dismiss the crossappeal and substitute the following judgment for the judgment of the Trial Division: The appeal is allowed in part and the assessments are referred back to the Minister for reassessment on the basis: (a) that Mr Abed had only a % interest in lot 128 in the Parish of Pointe Claire; (b) that, in determining the profit realized by Mr Abed on the sale of lot 128 in the Parish of Pointe Claire, there should be deducted from gross profits all expenses related thereto; and (c) that no part of the profit realized by Mr Abed on the sale, in 1959, of lot 278 in the Parish of Ste-Geneviève is to be included in Mr Abed’s income for the subsequent years. ...

Paragraph 20(1) of the Act reads as follows: 20(1) Notwithstanding paragraphs 18(1)(a), (b) and (h), in computing a taxpayer’s income for a taxation year from a business or property, there may be deducted such of the following amounts as are wholly applicable to that source or such part of the following amounts as may reasonably be regarded as applicable thereto: (c) Interest — an amount paid in the year or payable in respect of the year (depending on the method regularly followed by the taxpayer in computing the taxpayer’s income), pursuant to a legal obligation to pay interest on (i) borrowed money used for the purpose of earning income from a business or property... 20(1) Nonobstant les dispositions des alinéas 18(1)a), b) et h), lors du calcul du revenu tiré par un contribuable d’une entreprise ou d’un bien pour une année d’imposition, peuvent être déduites celles des sommes suivantes qui se rap- portent entièrement à cette source de revenus ou la partie des sommes suivantes qu'il est raisonnablement être considérée comme s’y rapportant: (c) Intérêts.-- une somme payée dans l’année ou payable pour l’année (suivant la méthode habituellement utilisée par le contribuable dans le calcul de son revenu) en exécution d’une obligation légale de verser des intérêts sur: (i) de l’argent emprunté et utilisé en vue de tirer un revenu d’une entreprise ou d’un bien... ... Pursuant to subsection 18(4) of the Act, the Minister reassessed the Appellant in the following manner: 1984 1985 1986 1987 Appellants total debt $1,037,877 $5,254,713 $ 10,094,441 $10,094,441 3 x Appellant’s equity (1.e. permitted debt under s. 18(4)) $202,446 $300 $300 $300 1984 1985 1986 1987 Amount the Appellants debt exceeds the permitted debt $835,431 $5,254,413 $10,094,141 $10,094,141 Interest paid to Ace and Worlds $76,967 $550,332 $271,452 $64,923 Interest deduction disallowed $61,967 $550,330 $271,443 $64,921 Interest deduction allowed $15,017 $2 $9 $2 The Appellant objected to the reassessments for each year on the basis that the Ministers disallowance of the interest deductions was not permitted under the terms of the Canada-U.S. ... Chen noted the emphasis on debt financing in the Appellants capital structure: Q: And you say, It appears that the arrangement is same as unrelated persons and then in bold letter, you say, ™ EXCEPT FOR THE STRUCTURE OF CAPITAL. ...