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, to which she replied, ‘‘ Well I don’t think there is any doubt about that because they are extremely anxious’’. ... ‘ ‘ And in Cooper v. Stubbs, [1925] 2 K.B. 753 at 769, Warrington, L.J., in the Court of Appeal said: The question therefore is simply this, were these dealings and transactions entered into with a view to producing, in the result, income or revenue for the person who entered into them? ... Their agreement with Shields under the " ‘Protective Offer’’ had been terminated and consequently could not be enforced. ...

Counsel drew the attention of the Court to the heading which says: 1 ‘ Averaging for farmers and fishermen”. ... Counsel then queries whether Parliament, by omitting the word ‘“where’’ between ‘‘and’’ and ‘‘the taxpayer’’, did clearly indicate that this has nothing to do with the condition because as per the grammatical construction of the section itself one has one part thereof starting with the word ‘‘where’’ and another one separated by the word ‘ 1 and” and a new sentence. ... He drew the attention of the Court to the fact that the part of the sentence ‘ file his return of income as required by this part’’ must be interpreted according to the ordinary plain meaning of these words. ...

Disregarding for the moment the definition contained in P.C. 331, Section 3, what meaning is to be attributed to * 4 taxes on income from logging operations?’” ... Little, a partner in the accounting firm of Clarkson, Gordon & Co., and who personally had charge of the audit of the appellant’s books. ... The figure $7,216,162.00 given as “ "logging costs’’ is—as stated by Mr. ...

at the time that subsection (4a) [renumbered ‘‘ (4b) ” in 1962] of Section 3 was enacted in 1960, Parliament showed that something wider had been intended by the words ‘‘policy of insurance effected on the life of the deceased’’ in paragraph (m) when that paragraph was enacted in 1958. ... These provisions read as follows: “3. (1) There shall be included in computing the aggregate net value of the property passing on the death of a person the value of all property, wherever situated, passing on the death of such person, including, without restricting the generality of the foregoing, (a) all property of which the deceased was, immediately prior to his death, competent to dispose; (2) For the purposes of this section, (a) a person shall be deemed to have been competent to dispose of any property if he had such an estate or interest therein or such general power as would, if he were sui juris, have enabled him to dispose of that property; 58. (1) In this Act, (i) ‘general power’ includes any power or authority enabling the donee or other holder thereof to appoint, appropriate or dispose of property as he sees fit, whether exercisable by instrument inter vivos or by will, or both, but does not include any power exercisable in a fiduciary capacity under a disposition not made by him, or exercisable as a mortgagee; " 99 These provisions apply to support the assessment, if they do support it, as follows: 1. ... In my view, nice comparisons of this kind are not a sound basis for legislative interpretation. 2 * Counsel for the appellant did not rely on the words “estate or interest” in Section 3(2) (a). ...

On August 19, 1950, Bowen & McLaughlin addressed a letter (Exhibit 8) to Messrs. ... On September 8, 1950, Standard Gravel & Surfacing of Canada Limited wrote to Mr. ... Henderson testified a few moments ago that that temporary advance by you to Bowen & McLaughlin of $200,000.00 capital, which you hoped National would be able to provide, was that ever treated as an advance in Bowen & McLaughlin of the National contribution to the capital of Bowen & McLaughlin? ...

Jens credits a large proportion of the 1957 ‘‘ premium business” listed on Exhibit 11, at no less than $66,250. ... Of greater significance, I presume, in respondent’s appraisal, three columns of this audit sheet (Ex. 8), labelled ‘‘Provision for Income Taxes’’, read as follows: 1950: $17,616.27 — 1956: $94,559.34 — 1957: $43,975.94. ... At the material time, Campbell was one of MacMillan & Bloedel’s lumber buyers, since promoted to head buyer. ...

DOYLE, of Montreal, in the Province of Quebec, (hereinafter called “the said Doyle”) OF THE FIRST PART, — and — SIR HAROLD P. ... MITCHELL, both of Hamilton, Bermuda, (hereinafter called “the said Mitchells”) OF THE SECOND PART, — and — J. HENRY BORGER (hereinafter called “the said Borger”) OF THE THIRD PART, — and — ARTHUR U. ...

Then Section 3 provides, inter alia, that such income includes income for the year from all businesses and Section 4 goes on to say: ‘ 1 4. 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. ’ ’ It was contended for the appellant that the profit made by it was not a profit from its business. ...

Expenditures were deducted on the same basis as had been followed in previous years but in this computation for the first time a deduction entitled ‘‘ Bad Debt Expense’’ was made in respect of the debts owing to the partnership, the amount deducted being $2,171. ... The subsection referred to is one of a group of provisions appearing in Part VIII of the Income Tax Act, R.S.C. 1952, c. 148, entitled “Transitional Provisions’’ and it reads as follows: “141. (6) Where, upon the application of a method adopted by a taxpayer for computing his income from a business or property for a taxation year to which this Act is applicable, an amount received in the year would not be included in computing his income for the year because on the application of that method it would have been included in computing his income for the purposes of this Act, The 1948 Income Tax Act or the Income War Tax Act for a previous year in respect of which it was receivable, if the amount was not included in computing the income for the previous year, it shall be included in computing the income for the year in which it was received. ’ ’ It will be observed that while this subsection has application as a transitional provision it is not limited to situations in which on the application of the method the amounts referred to would have been included in computing income for years in which either of the two earlier statutes applied but by its terms applies as well to amounts which on the application of the method would have been included in computing income for an earlier year to which the Income Tax Act itself applies. ...

C.R. 411; [1950] C.T.C. 169, and to Waintown Gas & Oil Co. Ltd., [1952] 2 S.C.R. 377; [1952] C.T.C. 147. ... She incurred no expense in the operations involved and the sales went on for years. ’ ’ In the instant case, the evidence establishes that the respondent from 1957 to and including 1960 sold gravel, and in doing so in the manner I have described I am satisfied that she embarked on a scheme for profit making and engaged in an adventure in the nature of trade. ...