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The duty of the Court. is, in my opinion, in all cases the same, whether the Act to be construed relates to taxation or to any other subject, namely to give effect to the intention of the Legislature as that inten- tion is to be gathered from the language employed having regard to the context in connection with which it is employed. ...

Rowell was counsel for the Government in the first action and in his evidence at the trial of this action he said that the Minister. shortly after the case had been fixed for trial, had informed him that certain proposals for settlement had been submitted and had asked him to look into and report upon certain matters in connection with the proposed settlement. ...

Upon the evidence before me it is my opinion that the Refinery is the party liable for the tax, and that generally it has made returns for the tax in connection with the sale transactions in question here, upon the proper basis, and at the proper prices. ...

An agreement between Head and Sterling Royalties Ld. was subsequently entered into, wherein Head agreed to drill the well according to the terms and conditions therein set forth, for which he was to receive as consideration therefor the sum of $30,000, one-half of which, $15,000, was to be paid in cash in monthly instalments, and as to the balance the agreement provided: The remaining balance, namely, Fifteen thousand ($15,000) Dollars, is to be paid out of the sale of production at the rate of Two thousand ($2,000) Dollars per month, but not to exceed forty per cent (40%) of the net production coming to the Owner after the payment of all royalties in connection with the said wells. ...

The policy further provides:— It is further agreed that when the first instalment under this policy becomes due, as above, the person or persons legally entitled to receive said first instalment shall have the option of commuting all instalments into a single cash payment of Seventy-one Thousand Four Hundred Dollars and the payment of this amount shall completely discharge the Company from all liability in connection with this contract; provided always that this option cannot be exercised by the beneficiary or payee unless the owner shall have filed with the Company a written request to that effect, or shall have so expressed his desire by will. ...

It is suggested that in applying the provisions of these sections a difficulty arises by virtue of section 66:— Subject to the provisions of this Act, the Exchequer Court shall have exclusive jurisdiction to hear and determine all questions that may arise in connection with any assessment made under this Act and in delivering judgment may make any order as to payment of any tax, interest or penalty or as to costs as to the said Court may seem right and proper. ...

The surplus at the 30th of November, 1924, ascertained by deduct- ting from the surplus of the previous year a sum required for an adjustment in connection with subsidiary companies’ stock and adding the net profit for 1924, is given at $818,709.60, and this sum appears in the balance sheet as a credit to profit and loss account. ...

It should be remembered, in connection with this passage, that the expenditure is to be attributed to capital if it be made ‘with a view’ to bringing an asset or advantage into existence. ...

The Security Company agreed to sell and transfer to the Premier Company, and the Premier Company agreed to purchase from the Security Company, the whole of the assets and undertaking of the Security Company as a going concern, including the goodwill of its business, and the same was so described in the Agreement as to include any reserves or undistributed profits to which the Security Company was entitled in connection with its business. ...

The fire insurance on that stock is carried by the respondent and Mackenzie, White & Dunsmuir Ltd. has no responsibility in connection therewith— See ex. 4. ...