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In consideration of the services performed by the Party of the Second Part and referred to hereinabove, the Party of the First Part shall pay to the Party of the Second Part a sum of money equal to 10% (ten per cent) of the Net Profits realized by The Party of the First Part from the Project each year as described hereinafter. 3. ... Il faut prendre en considération le fait que le contrat n’a pas été rédigé par un homme de loi mais par les hommes d’affaires eux-mêmes. ...

(ii) a loss from the disposition of a debt or other right to receive an amount, unless the debt or right, as the case may be, was acquired by the taxpayer for the purpose of gaining or producing income from a business or property (other than exempt income) or as consideration for the disposition of capital property to a person with whom the taxpayer was dealing at arm’s length, SECTION 50: Debts established to be bad debts and shares of bankrupt corporation 50. (1) For the purposes of this subdivision, where (a) a debt owing to a taxpayer at the end of a taxation year (other than a debt owing to the taxpayer in respect of the disposition of personal-use property) is established by the taxpayer to have become a bad debt in the year, or (b) a share (other than a share received by a taxpayer as consideration in respect of the disposition of personal-use property) of the capital stock of a corporation is owned by the taxpayer at the end of a taxation year and (i) the corporation has during the year become a bankrupt (within the meaning of subsection 128(3)), (ii) the corporation is a corporation referred to in section 6 of the Winding-up Act that is insolvent (within the meaning of that Act) and in respect of which a winding-up order under that Act has been made in the year, or (iii) at the end of the year, (A)       the corporation is insolvent, (B)       neither the corporation nor a corporation controlled by it carries on business, (C)       the fair market value of the share is nil, and (D)       it is reasonable to expect that the corporation will be dissolved or wound up and will not commence to carry on business and the taxpayer elects in the taxpayer’s return of income for the year to have this subsection apply in respect of the debt or the share, as the case may be, the taxpayer shall be deemed to have disposed of the debt or the share, as the case may be, at the end of the year for proceeds equal to nil and to have reacquired it immediately after the end of the year at a cost equal to nil. [31]         To deduct a BIL under sections 38 and 39 of the Act, the appellant must show that he suffered a capital loss from the disposition of property. ...

The Tax Court's consideration of the matter will be on the basis of the evidence adduced in the Tax Court, even if that evidence was not before the Minister when he made his assessment. ... If the requirements of the Act are seen to be impracticable, it is Parliament that must address the necessary changes. [27]            With these considerations in mind, I turn to the findings of fact by the Tax Court Judge and the evidence in this case. ...

There was a certain justification for Manhas' attitude in this respect for he had already gone through, with the British Columbia government, two expropriations of properties adjacent to the property under consideration. ... Manhas, on the advice of his accountant, sought the advice of a tax lawyer who was aware of the provisions of the Income Tax Act which are under consideration in this matter. ...

After a lengthy review of the legislation then in effect and that which it had replaced, he concluded: All these considerations lead to the conclusion that the appeal to this Court from a decision of the Income Tax Appeal Board, whether by the taxpayer or by the Minister, is a trial de novo of the issues involved, that the parties are not restricted to the issues either of fact or of law that were before the Board but are free to raise whatever issues they wish even if different from those raised before the Board and that it is the duty of the Court to hear and determine such issues without regard to the proceedings before the Board and without being affected by any findings made by it. ... The material portion of one of the leases in evidence, Exhibit 10, reads: NOW THEREFORE THIS INDENTURE WITNESSETH that in consideration of the rents and royalties hereafter provided... ...

It must be answered having regard to the facts of the particular case and the weight which must be given to a particular circumstance must depend upon practical considerations. ... Thus the prime consideration, where there is a dispute about a system of accounting, is, in the first place, whether it is appropriate to the business to which it is applied and tells the truth about the taxpayer's income position... ...

If the additional payment is the sole consideration for use of the money, there would appear to be a very strong probability that it is interest or a payment in lieu of interest. ... Justice Rand described interest in the following terms: Interest is, in general terms, the return or consideration or compensation for the use or retention by one person of a sum of money, belonging to, in a colloquial sense, or owed to, another. 4 On this requirement see: Attorney General for Ontario v. ...

(the "Act") provides: 7(1) Agreement to issue shares to employees-Subject to subsection (1.1), where a corporation has agreed to sell or issue shares of the capital stock of the corporation or of a corporation with which it does not deal at arm’s length to an employee of the corporation or of a corporation with which it does not deal at arm’s length, (b) if the employee has transferred or otherwise disposed of rights under the agreement in respect of some or all of the shares to a person with whom the employee was dealing at arm’s length, a benefit equal to the amount, if any, by which (i) the value of the consideration for the disposition exceeds (ii) the amount, if any, paid by the employee to acquire those rights shall be deemed to have been received by the employee by reason of the employee’s employment in the taxation year in which the employee made the disposition.... ... Article 10.03 as amended then read 10.03 Canadian Reserve shall use its best efforts (1) to enter into agreement with each holder of options to purchase shares in the capital of Canadian Reserve whereby such holders shall consent to termination of the option held and accept the amount payable therefor pursuant to this article, in full satisfaction of their rights under such options, or (2) failing that, in consideration for payment of such amount to obtain releases from such option holders, releasing and discharging Canadian Reserve, Getty Canada and the Amalgamated Corporation from any and all claims in respect of or relating to the termination of such options pursuant to this article. ...

But circumstances must be rare indeed, in which GAAP, or the euphemism "fundamental business principles" can provide a determination independent of those considerations. ... Well, with respect, I would submit that that is not the issue and that that should not be a consideration that you would make in arriving at your decision. ...

  [15]          The Crown further contends that there is no public policy consideration in these appeals that operates against the prima facie application of doctrine of issue estoppel where the conditions enunciated by the Supreme Court of Canada in Angle, supra, have been met ... In light of these considerations, the court did not alter the certificates of conviction. ...