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An appeal from the Tax Court of Canada to the Federal Court of Canada is a trial de novo in which the assessment under consideration is presumed to be valid until the taxpayer establishes otherwise. ...

Analysis The principal consideration here is whether or not the borrowing of the Swiss francs was a part of the mortgage financing in which case the respondent's position would be upheld or whether there were two separate and distinct parts to this transaction, one being the borrowing of the Swiss francs and the second being their conversion to Canadian dollars and then placed for the mortgage. ...

(h) The agreements with Canadian Coal and Coastal (Exhibits R-1 and R-3) both designated pursuant to subsection 127.3(6) of the Income Tax Act (Act) an amount equal to the total consideration of the debt (i.e. $100,000). ...

Although no actual Court action ensued, the settlement of payment followed upon agreement and signature of the following: FULL AND FINAL RELEASE KNOW ALL MEN BY THESE PRESENTS that I, JULIE ANN COOK, in consideration of the payment to me of $15,000 inclusive of all claims, interest and costs, which I direct be made payable to my solicitors Morris, Waxman, Carpenter-Gunn, in Trust, the receipt of which is hereby acknowledged, do hereby remise, release and forever discharge THE GREAT-WEST LIFE ASSURANCE COMPANY, its servants, successors and assigns, of and from all manner of actions, causes of actions, claims and demands of whatsoever nature and kind which against the said THE GREAT-WEST LIFE ASSURANCE COMPANY, I now have, have had or hereafter can, shall or may have for or by reason of any matter or thing of whatever nature and kind and, in particular, but without restricting the generality of the foregoing arising out of my claims, past and future, for disability benefits pursuant to a policy of insurance issued to the Hamilton Street Railway Company by the Great-West Life Assurance Company bearing policy number 44296GHB, which claims were the subject matter of an action commenced in the Supreme Court of Ontario under Court File No. 10836/90 in which I was plaintiff and The Great-West Life Assurance Company was defendant. ...

The defendants would be unjustly benefited at the cost to the plaintiffs if the latter, who had received no extra consideration and made no express bargain, should be left out of pocket by having to discharge what was the defendant's debt. ...

Such lease also provided that, in consideration of such guarantee by the plaintiff David Thom, the lessors granted to him, his heirs, executors, administrators, successors and assigns, the exclusive right, privilege and option of purchasing such real estate for the sum of $70,000 at any time during the term of such lease. ...

In deciding that those interest and charges could be deducted, the learned trial judge did not rely on any provision of the Income Tax Act but rather on what, in his view, would have been the intention of Parliament had it given consideration to that question. ...

Such performance should be regarded as having been achieved when reasonable assurance exists regarding the measurement of the consideration that will be derived from rendering the service or performing the long-term contract. ...

In the Barnard case the Tax Review Board had under consideration a "23-foot all weather boat, considered as a commercial boat by the vendors". ...

In my opinion this case requires consideration of the knowledge of the parties and their comparable ability to garner the relevant evidence. ...