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The initial question to be considered is whether the expenses in question were ‘‘exploration and development expenses’’ incurred by the appellant in ‘ searching for minerals ’ ’ within those words in subparagraph (ii) of paragraph (c) of subsection (3) of Section 83A. ... Appreciation of this fact, concerning which much persuasive evidence was led by the appellant, is essential to an appreciation of the appellant’s case, I need not set out the sense in which mining engineers use the word ‘ ‘ prospecting ’ ’. ... The difference between the positions taken by the parties in connection with this question has to do with the effect of subsection (5) of Section 83 which provided, in effect, in respect of the years when the expenses in question were incurred, that there shall not be included in computing the income of the appellant ‘‘ income derived from the operation ’ ’ of the new mine. ...

On the first $250 of the- income or any portion thereof, 22 per centum per annum; or i ” Paragraph AA of the First Schedule: " " Rate of tax applicable to investment income of persons other than corporations and joint stock companies, under subsection one of section nine of this Act, On investment income in excess of $1, 800—four per centum.” ... :invest- ment income ‘ ‘ and that must mean investment income as defined in the Act. In my view, ‘‘earned income ‘‘ was defined solely for the purpose of then defining " " investment income ‘ and, for the purpose of this case, it is sufficient to say that in general terms investment income is any income not defined in the Act as ‘‘earned income’’. ...

The term " " depreciation” apparently is here used in its commercial sense to apply only to wasting fixed assets, such as plant, machinery and equipment, which inevitably diminish in value while applied to the purpose of seeking profits, or advantage otherwise than by purchase and sale. ... The total deductions allowed the appellant for depreciation of plant and equipment, for depreciation of the well casings, for depletion, and for development costs, for the taxation period of 1938, may therefore be stated as follows: For depreciation on plant and equipment $24,119.74 " on casings 5,708.19 ‘ ‘ depletion 27,675.32 ‘ ‘ development 26,933.13 A total of $84,436.38 Before proceeding further I should perhaps explain that the method of computing the deductions for development and depletion in the taxation period in question was varied for the year 1939, and following years. ... " " The allowance for depreciation of casing in the said well was not sufficient in the circumstances.” ...

Nonetheless, this asserted effect did not trigger so instantaneous a ‘ ‘ follow-up ’ on the part of the executive boards, chosen after both incorporations, of which Harry Topper was not a member. ... & G. Furs, Inc., of which he was the controlling shareholder. He sought to deduct the interest paid to the bank in computing his personal income. ’ ’ (Cf. respondent’s brief, page 14.) ... & G. Furs, Inc., was not used for the purposes of earning his own personal income.” ...

Eallien Crawford-Brown (now deceased). 1929 • Income Tax Appeal. " " The appeal of the above named taxpayer against her assessment for 1929 on the ground that she was entitled to a life interest only in the estate of Sir Lyman Melvin Jones and accordingly that she should not be taxed on any portion of the premium received by the estate on the redemption of preferred shares of Massey-Harris Co. ... In addition to the said reasons, the appellant submits that the word " premium ’ has many meanings.” The notice then cites definitions of the words "premium'' and "" bonus” from Murray’s New English Dictionary and it continues as follows: " " The appellants submit that a fair and usual interpretation to be placed on the word ‘premium’ is that it is a bonus, i.e., an extra dividend. ...

At maturity of the coupons the appellant was the bearer of the coupons and in a position to present and surrender them to an agent of Canada, hence the coupons represented sums ‘ ‘ receivable... as interest’’ in the hands of the appellant and are to be included in income under Section 6(1) (b).; [M.N.R. v. ... The costs wall be payable by the appellant to the respondent...* * *, * * The reasons. of September. 23. 1970 are amended as follows: 1. ... By virtue of this agreement, he accepted, as a withdrawal indemnity in settlement of all the rights which he had or might have in the partnership, the sum of $35,900, payable in the amount of $19,900 by certain ms I whieh he received from the following contracts: Sogefors — $13,900 Métro — 3,000. ...

When questioned about the division between so- called crackling wines and sparkling wines, he stated that there is no clear-cut division but that wines with more than two absolute atmospheres of gas pressure would be sparkling wines. * * * The applicant may have misunderstood the regulation defining sparkling wines. ... The Bulletin does not necessarily imply any real ambiguity and may be explained by having ‘ ‘ misunderstood the regulation ’ ’ as the Tariff Board has found. ... I do not think that the words in paragraph (h) — “grant, subsidy or other assistance from a... public authority ’ ’ — have any application to an ordinary business contract negotiated by both parties to the contract for business reasons. ...

The entire series of cheques and deposits of them, in terms of dollars was a wash ’ ’ transaction, so to speak. ... (Chartered Accountants) $ 1,000.00* —Neuman, Pierce & Co. (Solicitors) $ 1,000.00* (*These sums were for fees for services rendered in winding-up Allied Heating Supply Ltd., after this series of transactions and were part of the total of $5,000.62 paid in fees.) 3. ... McColl Balfour Total Cheques for liquidating dividend received $49,674.58 $49,674.57 $49.73 $49.73 $99,448.61 Cheques issued for purchase of shares of old company from appellants........ 48,175.77 48,175.78 48.22 48.22 96,447.99* Fees received.. $ 1,498.81 $ 1,498.79 $ 1.51 $1.51 $ 3,000.62 (See Exhibit R-l, pages 19, 20 and 21) (*There was a 62 cent error made.) ...

Didace Dufresne Calcul des bénéfices conférés à ses enfants lors de deux émissions d’actions de “DUFRESNE ET FRERES LTEE” Emission de 75 actions ordinaires le 31 décembre 1960: Valeur des actions des enfants après l’émission: 90 actions à $1,087.00 $ 97,830.00 Valeur des actions des enfants avant l’émission: 15 actions à $1,421.00 21,315.00 Valeur transférée 76,515.00 Prix payé—75 actions à $100.00 7,500.00 Element de don $ 69,015.00 Bénéfice conféré par Didace Dufresne: $69,015.00 X $ 68,596.73 Emission de 270 actions ordinaires le 21 décembre 1961: Valeur des actions des enfants après l’émission: 360 actions à $540.00 $194,400.00 Valeur des actions des enfants avant l’émission: 90 actions a $1,000.00 90,000.00 Valeur transférée 104,400.00 Prix payé—270 actions à $100.00 27,000.00 Elément de don $ 77,400.00 Bénéfice conféré par Didace Dufresne: $77,400.00 $ 76,930.91 By his Reply to the Notice of Appeal, the respondent put the above portions of the Notice of Appeal in issue and, in effect, pleaded that what had been done was that the company had conferred a benefit on its shareholders that was exempt from income tax by Section 8(1) (c) (iii) of the Income Tax Act. ... At the hearing, the parties filed an ‘‘ Admission de Faits’’, the effect of which I have already stated, to the extent that I regard it as relevant, in my recital of the facts. ... That being so, I do not have to decide whether the other acts that took place as a necessary part of the action required to create those special circumstances were ‘ ‘ transactions ’ ’ (English version) or ‘‘opérations’’ (French version) within the meaning of the statute. ...

Laurent, Droit Civil Français, Vol. 26, p. 152; “... Il est incontestable que la participation aux bénéfices éventuels d’une entreprise est de l’essence de la société, et que sans cette participation il n’y a pas de société possible. ... Bau: ‘ Le contrat de société exige comme conditions essentielles de sa formation l’intention des parties de s’associer, une chose mise en commun, et la participation aux bénéfices et aux pertes de l’entreprise. ’ ’ ’ Furthermore, in endeavouring to ascertain the true intent and meaning of the type of agreement here in issue consideration, I think, must be given to such additional factors as the language in which it is couched; whether and to what extent mutually shared elements of speculation or risk exist; the extent of inequality, if any, of the authority which it vested in the parties; and the de facto conduct of the parties in giving effect to the agreement. ... (p. 186): ‘‘ Après avoir examiné le contrat du 1 er septembre 1912, Je suis d’avis que c’est un contrat de société. ...