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The auditor did not take that into consideration. Mr Tibor, who was the bank manager and the bookkeeper of the appellant, testified that in the years under appeal, 1975 to 1978, he went every three months to do the appellant’s books. ...

With regard to the first amount ($1,097.35), the appellant noted the following in his notice of objection: I feel that the present case merits special consideration: it is quite true that this course only ran from May 9 to June 3, 1977; however, as appears in the course program, a copy of which is attached, this was an accelerated course in which the student was present for a total of 155 hours in four weeks, for the simple reason that it was taken by students from twelve countries throughout the world, and it therefore had to be as condensed as possible so that it could be available to the greatest number of foreign students (see attached list of students). ...

I am taking into consideration the fact that there were lots in the industrial park which were sold for $0.05 per square foot, as well as the unexplained fact that there is too great a difference between the price of disposition of $0.31 per square foot and the price of $0.05 set by the Minister. ...

B) Mrs Diana Kapel maintain and provides (sic) for our daughter, Claudine Kapel. 4) Should any of the above conditions be changed, this agreement will become null and void, and a new agreement will have to be reached taking into consideration the new circumstances. 5) Should I predecease Mrs Diana Kapel, this agreement will be automatically cancelled, and in no time will my estate be bound by this agreement. 6) This agreement will be considered legal unless the Court of Law decides otherwise. ...

The appellant put forward for the Board’s consideration that he was aware that the provisions in the Income Tax Act during the year 1974 did not appear to allow the deduction he was claiming, but that his efforts in bringing the matter forward had been instrumental in having changes made in the Act commencing in the year 1976. ...

The appellant claims that the amount of $83,882.16 was not interest income but was part of the consideration for the sale of a convalescent hospital in California, and that consequently the amount was treated by it as a capital return. ...

Having given the matter my best consideration, I must conclude that this transaction was more in the nature of an accommodation to an associate or a capital investment by the appellant. ...

Although paragraph 20(6)(g) of the Income Tax Act provides that the Minister can make necessary adjustments where an amount can reasonably be regarded as being in part the consideration for disposition of depreciable property and part for something else, case law has been consistently to the effect that unless sham or subterfuge in a given transaction is proven, the terms of the agreement decided upon by the parties is final and decisive. ...

Counsel for the Minister presented for the Board’s consideration the cases of Richard Orville Blake v MNR, 28 Tax ABC 156; 61 DTC 704; William Moldowan v Her Majesty the Queen, [1977] CTC 310; 77 DTC 5213; and Robert M Hood v MNR, 34 Tax ABC 41; 63 DTC 968. ...

It is therefore, felt that an extension of time is applicable in this case for filing the notice of objection and your consideration would be appreciated at this time. ...