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Accordingly, although the appreciation in the value of land between 1970 (when it was acquired with a view to possibly reselling it at a gain) and 1976 was on income account, the appreciation from 1976 (when the taxpayer along with an affiliated company commenced to develop the land for use in connection with the construction of twin office towers) and 1983 (when the two buildings were sold pursuant to the acceptance of unsolicited offers at a price substantially in excess of the properties' fair market value) occurred on capital account. ...

Canada, 97 DTC 5363, [1997] 2 S.C.R. 336, [1998] 1 CTC 213-- summary under Payment & Receipt Summary Under Tax Topics- General Concepts- Payment & Receipt unrecorded revenues In connection with finding that the taxpayer had generated revenues, which were not reflected in its financial statements, from holding leasing assets for five days, L'Heureux-Dubé J. stated (at para. 87): The law is well established that accounting documents or accounting entries serve only to reflect transactions and that it is the reality of the facts that determines the true nature and substance of transactions: Vander Nurseries Inc. v. ...

La Reine, 2007 DTC 1534, 2007 TCC 461 (Informal Procedure)-- summary under Start-Up and Liquidation Costs Summary Under Tax Topics- Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Start-Up and Liquidation Costs Before going on to find that legal fees incurred as a result of a cancellation by the taxpayer of an agreement to purchase a building were capital expenditures, Paris J. rejected a submission that they should not be considered to have been incurred in connection with a source of business. ...

La Reine, 2007 DTC 1534, 2007 TCC 461 (Informal Procedure)-- summary under Paragraph 4(1)(a) Summary Under Tax Topics- Income Tax Act- Section 4- Subsection 4(1)- Paragraph 4(1)(a) Before going on to find that legal fees incurred as a result of a cancellation by the taxpayer of an agreement to purchase a building were capital expenditures, Paris J. rejected a submission that they should not be considered to have been incurred in connection with a source of business. ...

In finding that the foreign exchange loss sustained by the taxpayer when he repaid the borrowing was a capital loss, Brule J indicated that the character of the loss as arising in connection with the taxpayer's trading business was not affected by the capital nature of the rental property. ...

The Queen, 2010 DTC 1203 [at at 3526], 2010 TCC 307 (Informal Procedure)-- summary under Subsection 18(12) Summary Under Tax Topics- Income Tax Act- Section 18- Subsection 18(12) electronic repair, and hydro pole inspection, businesses were separate The repairing by the taxpayer of electronic appliances primarily at his home was found to be a separate business from his contract for BC Hydro of inspecting hydro electric poles and pole structures, given that there was essentially no connection between the two operations other than that they were both performed by him with his home as a base of operations. ...

Telesat Canada (1982), 133 DLR (3d) 321 (Ont CA)-- summary under Section 96 Summary Under Tax Topics- Income Tax Act- Section 96 An agreement between Telesat Canada and the nine principal Canadian telephone companies setting up the Trans-Canada Telephone System did not create a business, the profits from which were shared by the parties but instead provided for the interprovincial connection of the parties' individual telecommunication signals and for a complicated method of revenue settlement, whereby certain revenues received from the operation of the system were attributed to each party in order that it could receive a return on its investment for its particular part in the transmission of telecommunications. ...

The purpose of s. 250(3) is only to make it clear that "residence" does not have a narrow meaning of "actual physical presence at any given time", but instead refers "to the circumstantial concept of the person who has centralized his ordinary mode of living at some place in Canada or has maintained a sufficient nexus or connection therewith as to be logically regarded as being ordinarily resident in Canada, even though physically absent therefrom. ...

Linden J.A. noted (at p. 5608) that the phrases "because of" or "as a consequence of" in s. 80.4(1) required "a strong causal connection" and went on to find that because the employees (who already had Calgary homes) obtained their new form of mortgage financing largely independently of employer involvement, it was reasonable to consider that the new mortgage debt was incurred "in order to obtain ownership of a house, not... 'as a consequence of'... employment". ...

., 89 DTC 5404, [1989] 2 CTC 246 (FCA)-- summary under Personality Summary Under Tax Topics- General Concepts- Personality The taxpayer ("MerBan") in connection with a leveraged share acquisition arranged for borrowings to be made to two special purpose subsidiaries in order to limit its liability and to facilitate the use of an income debenture. ...