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For the purpose of this agreement the business shall be valued as follows: Assignment of lease—$32,000.00 Goodwill—$15,000.00 Stock—$500.00 Equipment—$474.50 ’ ’ On the same date, i.e, February 1, 1954, Pender Enterprises Ltd., by its president Sam Lee and its secretary, James Wong, signed a promissory note (Ex. ... 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. ... No written lease, but I had a verbal commitment from these people, if I didn’t have I would not have gone into the business. ” And at p. 32: ‘THE COURT: Q. ...

(a), is to be computed on the duty paid value or the "‘sale price/ ‘ as the case may be. ... I think I am correct in saying that the only product produced by Bromo-Seltzer Ld. was the well known preparation called " " Bromo-Seltzer. ” In 1937, Bromo-Seltzer Ld. had an arrangement with McGillivray Bros. ... The phrase ‘‘fair price ” is a commercial term and not a legal term, and it involves a question of fact, into which many considerations may enter. ...

It is common ground that the respondent and his wife entered into a so-called ‘‘ Property Settlement and Separation Agreement’’ on September 27, 1960, and it is common ground that the payments in question were made by the respondent in accordance with the terms of that agreement. ... It says, “the Husband agrees to pay the Wife the sum of... $20,000... as follows ’ ’, and then it sets out the actual payments that are to be made. ...

The calculation is: $10,500 X 5,000 —~ — $1,166.66 $45,000 2. The same principle would be applied in subsequent years and the profit would be allocated on the same basis.” ... Exhibit 5, dated August 1, 1954, a statement of adjustment, has for its first entry the following: ‘ To purchase price: $170,000’’, that, to all intents, may be taken to be the total cost of the 40,000 feet warehouse with, probably though unrevealed at trial, an additional consideration for the assignment, July 31, 1954, of the ground lease by Brown and Pearson to the Louies for the balance of the term of 10 years from July 1, 1953 (cf. ...

Subsection (6) of Section 50, as amended in 1949, read as follows: "50. (6) No interest under this section upon the amount by which the unpaid taxes exceeds the amount estimated under section 41 is payable in respect of the period beginning 12 months after the day fixed by this Act for filing the return of the taxpayer’s income upon which the taxes are payable or 12 months after the return was actually filed, whichever was later, and ending 30 days from the day of mailing of the notice of the original assessment for the taxation year. ’ ’ Subsections (1) and (2) of Section 42 provided: "42. (1) The Minister shall, with all due despatch, examine each return of income and assess the tax for the taxation year and the interest and penalties, if any, payable. (2) After examination of a return, the Minister shall send a notice of assessment to the person by whom the return was filed.” ... After the appellant filed its income tax return for the 1950 taxation year, (a) the return was inspected by an assessor who checked the computation of the tax payable by the appellant on the basis that the taxable income shown by the income tax return was correct; (b) the work of the original assessor was checked by another assessor; (ec) the payments claimed to have been made were checked by an appropriate section of the Toronto Office of the Department; (d) the tax payable by the appellant was determined by the Deputy Minister as indicated on the original ‘ Notice of Assessment’ without further investigation than indicated by subparagraphs (a), (b) and (c) of this paragraph; (e) the original ‘Notice of Assessment’ was sent out on behalf of the Deputy Minister; (f) it having been decided that the return should be reviewed to ascertain whether a ‘reassessment’ was appropriate, another assessor inspected the return and, upon checking the computation of taxable income, conducted an examination of the Company’s records as a result of which a ‘reassessment’ of the Company was considered by the appropriate officers of the Department and the tax payable by the taxpayer was redetermined by the Deputy Minister as indicated on the ‘Notice of Reassessment’; and (g) the ‘Notice of Reassessment’ was sent out on behalf of the Deputy Minister. 4. ...

Fisher’s share in that income until the death. of the last of the present four survivors of the group named in the will of Charles Woodward. ii (: 110 The appellants under the will of the said Mary Catherine Fisher are each entitled to the income for life from one-half the residue of Mrs. ... The value of every annuity, term of years, life estate, income, or other estate, and of every interest in expectancy in respect of the succession to which duty is payable under this Act shall for the purposes of this Act be determined by such rule, method and standard of mortality and of value, and at such rate of interest as from time to time the Minister may decide.” 1'58. (2) The Minister may make any regulations deemed necessary for carrying this Act into effect, and in particular may make regulations: (c) prescribing what rule, method and standard of mortality and of value, and what rate of interest shall be used in determining the value of annuities, terms of years, life estates, income, and interests in expectancy. ’ ’ Regulation 19—as amended, and as published in the Canada Gazette, November 8, 1941, and as in effect at the death of Mrs. ...

Nous lisons à la fin de l’article 4 de ce Mémorandum, produit sous la cote A-l, que “... ... La décision de la Cour fut la suivante: ‘* Held: 1. That the term association ’ in its ordinary meaning is wide enough to include an incorporated company and does not exclude an incorporated company such as the appellant. 2. ... C.I.R., 12 T.C. 358-366, le Juge Rowlatt décrétait: ‘*... in taxation you have to look simply at what is clearly said. ...

. '■ •> ’ I turn now to the appellant’s alternative submission, that the Corporation itself carried on business in Canada during the material times. ... By clause (d) of this subsection, tax is imposed in respect of ‘‘rent, royalty or a similar payment, including, but not so as to restrict the generality of the foregoing, any such a payment (i) for the use in Canada of property, (ii) in respect of an invention used in Canada, or (iii) for any property, trade name, design or other thing whatsoever used or sold in Canada, but not including (A) a royalty or similar payment on or in respect of a copyright, or (B) a payment in respect of the use by a railway company of railway rolling stock as defined by paragraph (25) of section 2 of the Railway Act; ’ The assessments are founded on the assumption that the sums in question were ‘‘rent... or a similar payment including but not so as to restrict the generality of the foregoing, any such a payment for the use in Canada of property’’ within the meaning of this subsection. On behalf of the appellant, it was submitted that the word ‘‘rent’’ is a technical term used to refer to a profit issuing from real property, that the words ‘ or any similar payment including any such payment for the use of property’’ which follow ‘‘rent’’ in Section 106 are to be construed as meaning payments having the characteristics of rent and that the payments in question do not have such characteristics, there being no certainty in the agreement as to the amount to be paid or as to the time when payment is to be made. ...

Apart altogether from the provisions of that section, it could not, in my opinion, be fairly contended that, where depreciable assets were sold by a taxpayer to an entity wholly controlled by him or by a corporation controlled by the taxpayer to another corporation controlled by him, the taxpayer as the controlling shareholder dictating the terms of the bargain, the parties were dealing with each other at arm’s length and that Section 20(2) was inapplicable. ’ ’ In my view, it is not necessary in this case to refer to the provisions of Section 127 (5), for at the time when the property was sold to the respondent the respondent was wholly controlled by the persons who sold the property to it, and it would be impossible to maintain that these parties on the one hand and the respondent on the other were dealing at arm’s length. ... Rarely in sing. 1665. ’ ’ The word appears in O. 16, r. 1 of the Rules of the Supreme Court of Judicature in England respecting joinder of parties to actions and in differing contexts in a number of statutes, and it has been judicially considered from time to time in the interpretation of such rules and statutes. ... Viscount Simon, in dealing with this point in the ease, said at p. 108: ‘ In my opinion, there was in each case a transaction out of which the loss arose. ...

Cardiff (Borough) Assessment Committee^ per Lord Hewart, C.J., [1931 | “.! ... I need quote only the last sentence of this statement: ‘The effect of the revision, though in form repealing the Acts consolidated, is really to preserve them in unbroken continuity. ’ ’ Then the Chief Justice said, at page 219. ... IV of the Revised Statutes of Canada, under the heading ‘‘ Extent of Repeal’ ‘ the following appears with regard to the 1926 Act: "The whole, except s.2, the first sentence of par. ...