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As indicated above, the provision relied upon by the respondent as constituting such a prohibition is Section 11(1) (£). ... In Charles Marsden & Sons, Ltd. v. C.I.R. (1919), 12 T.C. 217, Rowlatt, J. applied the Crown Spelter case to an advance between companies. ... & G. Oldfield, Limited (1925), 9 T.C. 319, was a case where the managing director of a company died owing the company money. ...

It is clear therefore that a trust, such as is here in question, is a person ’ within the statute. ... It appears to be that the sale of the testator’s lands is a mere accrual of capital, and possesses 7 none of the elements of a business and no portion of the proceeds / from sales of land can hardly, in the circumstances, be called / annual net profit or gain. ... & N. 769, at p. 777. Whatever might be said in support of the Crown’s contention if the testator were still alive, and doing in this connection what the trustee is now doing, it can hardly be said that it is part of the business of the trustee, to deal in lands for profit. ...

In its income tax return for 1952, the appellant’s statement of ‘‘Profit and Loss’’ for the year ended December 31, 1952, adds to its net profit, after deduction of certain expenses, the item ‘‘ As exchange profit on settlement of bank loans in Japan, the sum of $172,927” but claims that it was not taxable income within the meaning of the provisions of the Act. ... Repayments on the overdraft account pursuant to that loan are as follows: 1938 September 200,000 yen October 00,000 “ 1939 January 60,000 March 100,000 °° April 00,000 May 50,000 and so on. ...

The Minister, taking the position that the operations of the Company above referred to constitute an investment in capital, has not allowed depreciation to an amount appropriate in the circumstances having regard to the period of the life of wells in Turner Valley and the nature of development of oil wells in said area. 1 " 3. ...

Salomon & Co., [1897] A.C. 22, which established the legal nature of a company. ... No fresh purpose can, in law, be pursued, even with the consent of all the shareholders; see Ashbury Railway Carriage & Iron Co. v. ... Ashbury Railway Carriage & Iron Co. (1874), L.R. 9 Exch. at pp. 263, 264. ...

Le 6 août 1958, Belle-Isle prétendait disposer de cet hôtel pour un prix de vente de $111,280 comprenant l’émission, en son nom, de 9,896 actions ordinaires de la compagnie 4 ‘ Gérard Dessert, Limitée’’, acquéreur de l’immeuble, qui assumait aussi une hypothèque de $81,800. ... Elle estime également que l’intimé, comme il l’allègue au paragraphe 12 de sa réponse à l’avis d’appel “... était en droit de taxer la récupération de l’allocation du coût en capital réclamée par l’appelant dans les années antérieures à l’année de la vente’’. ...

We are told in Section 7 by the appellant himself, that ‘‘.. at the request of the ratepayers of that Town, (he) had subdivided the land and sold it in lots to meet the requirements of the Town for increased expansion’’. ... Under such circumstances, I readily concur with the respondent’s interpretation, as formulated in paragraph 11 of his Reply to Notice of Appeal, that: (€. the difference between the amounts advanced by the Appellant on the mortgages and other investments and the amounts which he received on the assignment of the mortgages and other investments to Associated Investors of Canada Limited constitutes income from a business in virtue of sections 3 and 4 and paragraph (e) of subsection (1) of section 127 of The 1948 Income Tax Act and sections 3 and 4 and paragraph (e) of subsection (1) of section 139 of The Income Tax Act.’’ ...

The sole question involved in each of the appeals is whether the appellant is ‘‘associated’’ with another company known as Dworkin Furs Limited (hereinafter referred to as ‘‘ Dworkin’’) within the meaning of the word ‘‘associated’’ as used in Section 39 of the Income Tax Act so as to authorize the Minister of National Revenue to take action that has effect to deprive the appellant of the lower income tax rate on its first $35,000 of income in each of the years in question. ... The word ‘ control’ might conceivably refer to de facto control by one or more shareholders whether or not they hold a majority of shares. ...

V, c. 2, B.C. the "Agricultural Associer tion Act, 1911’’, and more especially under Part II of that Act which deals with ‘‘ Associations with share capital’’. ... The company, after being duly constituted, is supposed to deal exclusively with producers who are shareholders (with a few exceptions mentioned at trial) and enters into a contract with them in the form of exhibit No. 2, whereby it is, among other things, provided, viz:— " "(c) For the purpose of paying a cash dividend on the paid-up shares in the capital stock of the Association at such rate as may be fixed by the said Association in annual gen- neral meeting, such dividend not to exceed 8% per annum.” ...

. / ‘‘(a) produced or manufactured in Canada, payable by the producer or manufacturer at the time of the sale thereof by him. ” The Vancouver Brick and Tile Company Ltd. was incorporated under the laws of the Province of British Columbia in May, 1927, and in May, 1935, its name was changed to the B.C. ...