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He testified that Mr Leckyre has disappeared and that Mr Serratore is in jail in connection with a fraud. ...

They read as follows: SEC 31 (1) Where a taxpayer’s chief source of income for a taxation year is neither farming nor a combination of farming and some other source of income, for the purposes of sections 3 and 111 his loss, if any, for the year from all farming businesses carried on by him shall be deemed to be the aggregate of (a) the lesser of (i) the amount by which the aggregate of his losses for the year, determined without reference to this section and before making any deductions under section 37 or 37.1, from all farming businesses carried on by him exceeds the aggregate of his incomes for the year, so determined from all such businesses, and (ii) $2,500 plus the lesser of (A) /2 of the amount by which the amount determined under subparagraph (i) exceeds $2,500, and (B) $2,500 and (b) the amount, if any, by which (i) the amount that would be determined under subparagraph (a)(i) if it were read as though the words “and before making any deduction under section 37 or 37.1” were deleted, SEC 248 “Farming” — “farming” includes tillage of the soil, livestock raising or exhibiting, maintaining of horses for racing, raising of poultry, fur farming, dairy farming, fruit growing and the keeping of bees, but does not include an office or employment under a person engaged in the business of farming; “Personal or living expenses” — “personal or living expenses” includes (a) the expenses of properties maintained by any person for the use or benefit of the taxpayer or any person connected with the taxpayer by blood relationship, marriage or adoption, and not maintained in connection with a business carried on for profit or with reasonable expectation of profit, 4.02 Case law The parties referred the Court to the following cases: 1. ...

It is my conclusion that the expenses claimed for the various years in connection with the drafting business are reasonable in the specific circumstances of these appeals and will be allowed. ...

They relate as follows: 18. (1) In computing the income of a taxpayer from a business or property no deduction shall be made in respect of (h) personal or living expenses of the taxpayer except travelling expenses (including the entire amount expended for meals and lodging) incurred by the taxpayer while away from home in the course of carrying on his business; 31. (1) Where a taxpayer’s chief source of income for a taxation year is neither farming nor a combination of farming and some other source of income, for the purposes of sections 3 and 111 his loss, if any, for the year from all farming businesses carried on by him shall be deemed to be the aggregate of (a) the lesser of (i) the amount by which the aggregate of his losses for the year, determined without reference to this section and before making any deductions in respect of expenditures described in section 37, from all farming businesses carried on by him exceeds the aggregate of his incomes for the year, so determined from all such businesses, and (ii) $2,500 plus the lesser of (A) ‘/z of the amount by which the amount determined under subparagraph (i) exceeds $2,500, and (B) $2,500, and (b) the amount, if any, by which (i) the amount that would be determined under subparagraph (a)(i) if it were read as though the words “and before making any deductions in respect of expenditures described in section 37’’ were deleted, exceeds (ii) the amount determined under subparagraph (a)(i); and for the purposes of this Act the amount, if any, by which the amount determined under subparagraph (a)(i) exceeds the amount determined under subparagraph (a)(ii) is the taxpayer’s “restricted farm loss’’ for the year. 248. (1) In this Act, “personal or living expenses” includes (a) the expenses of properties maintained by any person for the use or benefit of the taxpayer or any person connected with the taxpayer by blood relationship, marriage or adoption, and not maintained in connection with a business carried on for profit or with a reasonable expectation of profit, (b) the expenses, premiums or other costs of a policy of insurance, annuity contract or other like contract if the proceeds of the policy or contract are payable to or for the benefit of the taxpayer or a person connected with him by blood relationship, marriage or adoption, and (c) expenses of properties maintained by an estate or trust for the benefit of the taxpayer as one of the beneficiaries; 4.02 Cases at Law Counsel for both parties referred the Court to the following cases: 1. ...

A great amount of its time is expended in this area over and above the volunteer members’ work in connection with the annual bonspiels and play downs. ...

In reassessing the Appellant as he did, the respondent relied, inter alia, upon the following assumptions of fact: (a) that the Appellant commenced his farming activities in 1978; (b) that at all material times, the Appellant had other full time employments, leaving little time to devote to the farming operation; (c) that the majority of the expenses claimed by the Appellant in relation to his farming activities constituted personal or living expenses and were not expenses incurred or outlays made in connection with a business carried on for profit or with a reasonable expectation of profit; (d) that at all material times, the extent of the Appellant’s farming activities and the income generated by such activities were not significant enough to be considered a viable business; (e) that at all material times, the Appellant carried on his farming activities without any expectation, or without any reasonable expectation, of profit; (f) that at all material times, the Appellant was not carrying on a farming business. ...

The objects for which the plaintiff was incorporated as set forth in its letters patent include: “To conduct and carry on in all branches the business of builders, developers and contractors for the purpose of doing any work in connection with any and all classes of building, works and improvements of any nature, kind or description whatsoever”. 3. ...

They read as follows: 9. (1) Subject to this Part, a taxpayer’s income for a taxation year from a business or property is his profit therefrom for the year. 18. (1) In computing the income of a taxpayer from a business or property no deduction shall be made in respect of (a) an outlay or expense except to the extent that it was made or incurred by the taxpayer for the purpose of gaining or producing income from the business or property; (b) an outlay, loss or replacement of capital, a payment on account of capital or an allowance in respect of depreciation, obsolescence or depletion except as expressly permitted by his Part; (h) personal or living expenses of the taxpayer except travelling expenses (including the entire amount expended for meals and lodging) incurred by the taxpayer while away from home in the course of carrying on his business. 248. (1) In this Act, “Personal or living expenses” includes (a) the expenses of properties maintained by any person for the use or benefit of the taxpayer or any person connected with the taxpayer by blood relationship, marriage or adoption, and not maintained in connection with a business carried on for profit or with a reasonable expectation of profit, (b) the expenses, premiums or other costs of a policy of insurance, annuity contract or other like contract if the proceeds of the policy or contract are payable to or for the benefit of the taxpayer or a person connected with him by blood relationship, marriage or adoption, and (c) expenses of properties maintained by an estate or trust for the benefit of the taxpayer as one of the beneficiaries. 4.02 Cases at Law 1. ...

Peter Ciccone, in his evidence, says that Mr Storrow told him about Schuss being interested in borrowing $25,000 in connection with the Montclair Apartments purchase. ...

Maria Greatti was aware that her father worked with Giannunzio in connection with real estate but she was not too familiar with the precise way they purchased and sold real estate. ...