Search - connection

Notably, the Report of the Select Committee on Company Law (1967) (the Lawrence Report) recommended a legal standard of conduct for Ontario directors that was framed in the following terms (at para. 7.2.3): Every director of a company shall exercise the powers and discharge the duties of his office honestly, in good faith and in the best interests of the company, and in connection therewith shall exercise that degree of care, diligence and skill which a reasonably prudent director would exercise in comparable circumstances. ...

By a series of reassessments, the last of which (the "Reassessments") is the subject of this appeal, the Minister of National Revenue assessed tax against the applicant under Part I of the Income Tax Act (the " Act ") on the following amounts [referred to in these reasons as "Assessed Items"]:   (a)        $2,862,385 on account of incomes from the duties of offices and employments performed by the applicant outside of Canada; [2]   (b)        $90,291 on account of the value of the benefit assumed by the Minister to have been received by the applicant from 10 Toronto Street Inc ("10 Toronto") for the security paid in connection with the applicant's home at 26 Park Lane Circle, Toronto;   (c)        $87,834 on account of the value of the benefit assumed by the Minister to have been received by the applicant from The Ravelston Corporation ("Ravelston") for an amount paid to John Hillier;   (d)       $326,177 on account of taxable dividends received by the applicant;   (e)        $28,035 on account of interest and other investment income received by the applicant;   (f)        $365,564 on account of benefits which the Minister assumed that the applicant was deemed to have received under subsection 15(1), subsection 15(9) and subsection 80.4(2) of the Act in respect of indebtedness owed by him to Conrad Black Capital Corporation ("CBCC"); and   (g)        $1,367,055 on account of benefits that the Minister assumed had been conferred upon him as a result of his use of an airplane to which Hollinger International Inc. had access and which the applicant used [3].   2.         ...

At paragraph 36, the Court stated:   …As long as the transaction has some connection with the common law series, it will, if it was completed in contemplation of the common law series, be included in the series by reason of the deeming effect of subsection 248(10). ...

  (8) [Permission for earlier disposal] A person required by this section to keep records and books of account may dispose of the records and books of account referred to in this section, together with every account and voucher necessary to verify the information contained therein, before the expiration of the period in respect of which those records and books of account are required to be kept if written permission for their disposal is given by the Minister.   231.1 (1) [Inspections] An authorized person may, at all reasonable times, for any purpose related to the administration or enforcement of this Act,   (a) inspect, audit or examine the books and records of a taxpayer and any document of the taxpayer or of any other person that relates or may relate to the information that is or should be in the books or records of the taxpayer or to any amount payable by the taxpayer under this Act, and   (b) examine property in an inventory of a taxpayer and any property or process of, or matter relating to, the taxpayer or any other person, an examination of which may assist the authorized person in determining the accuracy of the inventory of the taxpayer or in ascertaining the information that is or should be in the books or records of the taxpayer or any amount payable by the taxpayer under this Act,   and for those purposes the authorized person may   (c) subject to subsection (2), enter into any premises or place where any business is carried on, any property is kept, anything is done in connection with any business or any books or records are or should be kept, and   (d) require the owner or manager of the property or business and any other person on the premises or place to give the authorized person all reasonable assistance and to answer all proper questions relating to the administration or enforcement of this Act and, for that purpose, require the owner or manager to attend at the premises or place with the authorized person ...

I agree with his conclusions and reasons and merely add these remarks to emphasize (a) The new Regulation 1201 has the effect of making the decision of this Court in the Home Oil case inapplicable; (b) In view of Section 3 of the Act, referred to above, and generally because a company cannot sell to itself, the practice of Imperial Oil Limited, even if warranted by sound accounting principles, cannot prevail against the rule; (c) In connection with the item of $19,992,588.33 “Unrelated drilling, exploration and other costs’’, while one witness for the company was not certain, I am satisfied that under Section 53 of the Act the company deducted this item in computing its taxable income. ...

Some forty lots were sold between 1973 and 1975, and a few sales took place after that, at unspecified times. [10] In this connection, Arnaud Properties reported profits of $281, $24,974 and $105,410 for 1973, 1974 and 1975, respectively, and declared dividends of $29,300 for 1973 and $36,000 for 1975. [11] Arnaud Properties did nothing other than sell lots; it did not build on the lots. ...

The Appellant testified that there were no horse stables, no country club membership, no tennis courts, no swimming pool extant in connection with the land. ...

In the case at bar, Trustco is a party in two separate contractual relationships: the first is in connection with the trust account and the second with the joint account. ...

The proffered “window dressing” argument is relevant to the Minister’s decision to revoke the registration not to the factual issue of whether misrepresentation has occurred in connection with that fact. ...

In developing the printer, the appellant set the following specifications: −           the printer had to be small and light, the dimensions were to be 1.5” x 1.5” x 10”; −           the printer had to deliver a full-sized 8” x 11.5” sheet of copy or graphic; −           the printer had to connect to a data source such as cellular phone, PDA or a laptop via the Bluetooth; −           the printer had to use wireless technology permitting it to print without the need for a cable connection; −           the printer had to be self-contained, meaning that the paper had to be inside the printer on a reel in a very tightly curled compact roll; −           the paper cartridge had to consist of 20 sheets of paper; −           the printer had to be battery operated and the battery had to function for a full cartridge of paper between recharges. [22]         Since the paper in the printer was rolled very tightly, the printer had an anti-curl system designed to ensure that the paper would be flat when it came out of the printer. [23]         In 2008, the appellant tested some prototype printers in its laboratory. ...