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The appeal involves a consideration of the provisions of Section 19(1) of the Income War Tax Act and its application to the facts of this ease. ... He took into consideration the entire operations of the company since it commenced business as disclosed by its income tax returns, making due allowance for adjustments made at the time of each assessment, and also taking into consideration the income assessed for the years 1939 to 1943 which were later affirmed by the judgment in the Exchequer Court. ...

The Company hereby agrees in consideration of the said sale to it, to pay to the said Vendor the sum of Five Thousand ($5,000) dollars in cash upon the execution of this Agreement by the Company, and to issue to the Vendor or her nominee certificates of stock of the Company to the aggregate amount of twenty-five thousand shares of the par value of One Dollar each and the said shares shall be deemed to be and are hereby declared to be fully paid shares and not liable to any call thereon, and the holder of such stock shall not be liable to any further payment thereon. “3. The Company hereby further agrees in consideration of the said sale to deliver to the Order of the said Vendor the royalty hereby reserved to the Vendor, namely; ten per cent of all the petroleum, natural £as, and oil, produced and saved from the said lands free of costs to the said Vendor on the said premises. ... In the event of oil or gas being discovered in commercial quantities on the said lands the Vendor as part of the consideration for this Agreement, covenants to transfer to the said Company by good and sufficient transfer in fee simple the said twenty acres of land freed and discharged from all encumbrances and also shall transfer to the said Company by good and sufficient transfer in fee simple, freed and discharged from all encumbrances the South twenty acres of the North West Quarter of Section twenty-four (24), Township twenty (20), Range three (3), West of the 5th Meridian, and such transfers shall be completed and delivered forthwith after oil or gas is discovered in commercial quantities by the said Company, reserving always however to the Vendor the said Royalty of ten per cent of all petroleum, natural gas and oil in respect to the South twenty acres of the N.W. 4 of Section 13, Township 20, Range 3, West of the 5th Meridian, and also free access on and over all said lands described-in this paragraph to an extent not exceeding three trails and the location of the said trails shall be selected by the Vendor. ...

In the early part of that year, Atlas Coal Company Limited was in financial difficuties and some time in April it assigned and transferred unto National Securities Limited all its right, title and interest in and to the said leases for certain considerations which have no materiality herein and which accordingly I need not relate. ... Eaton) for a term of five years from the first of July, 1929, for and in consideration of a rental of $10,000 a year and a royalty of ten cents per ton on all coal mined. ... On August 18, 1930, the original subtenants, namely, the appellant, his wife, his son, his daughter-in-law, his daughter and his son-in-law, transferred. their interest in the sublease to Atlas Coal Company Limited in consideration of shares in the company, to be allotted as follows: to appellant 83 shares; to appellant’s wife, 82 shares; to Lorraine Patrick, 83 shares; to Gertrude U. ...

The first question that arises, therefore, for consideration, is whether, on the agreed facts, this company did during the taxation year 1940, carry on business operations entirely outside of Canada, or whether in the alternative, it did carry on some business operations in Canada, and it is clear to me that if it did carry on business operations in Canada in 1940, then it is not such a company as is described in the subsection and is, therefore, not entitled to the exemption provided for in that section. ... So that I have to give consideration to the question as to whether the assets of this company are situate entirely outside of Canada, and I exclude from consideration for the moment any reference to securities acquired by the investment of accumulated income and bank deposits, which, as I recall at the moment, aggregated in 1940 the sum of about $98,000.00. ...

Omitting for the moment any consideration as to the meaning of the word "‘its’’, I think it is clear that while the appellant had complete control of the three companies before January 1, 1938, by reason of owning all their shares, the appellant did not ‘‘acquire’’ their businesses as going concerns until 1941 and 1942 until it took over all their assets and business and merged them in its own. ... From a consideration of these facts, I do not think it can be said that the appellant company ‘‘acquired its business’’ after January 1, 1938. ... The intent of sec. 4(2) may be gathered from consideration of the whole Act. ...

The evidence adduced by counsel for the plaintiff consisted of (a) the examination for discovery of an officer of the defendant corporation; (b) the letter written by the Assistant Deputy Minister of National Revenue to the defendant dated August 17, 1948, in which the defendant was notified that the Department had under consideration a proposed assessment against the defendant for sales tax for the period November 1, 1947, to May 31, 1948; that full details of the proposed assessment could be obtained at the Vancouver office of the Department; that the defendant could make such representations in regard thereto as it thought fit until September 8, 1948; and that thereafter and following consideration of the matter an assessment would be made under section 113(8) of the Act for such amount of sales tax as might be payable. ... Ltd., Vancouver, B.C., for representations regarding or objections to a proposed assessment for sales tax in the amount of $1,388.75 for the period from November 1st, 1947, to May 31st, 1948, and after making further enquiries and having given full consideration to the matter and being of the opinion that the said Pacific Bedding Co. ...

About 18 months later, lot #154 was conveyed, for a consideration of $7,500, to Pimlico Invest- ments Limited, a company in the capital stock of which the appellant owned shares. ...

I have given appellant’s powerful argument my best consideration, but I am simply unable to see that there is any context here which would enable me to construe ‘‘substantial’’ as “majority”. ...

., 37 Tax A.B.C. 174, it was held that this was a question of fact to be determined after consideration of all the surrounding circumstances and not merely from the form of the contract or document under which the payments were made. ... His figures represent the actual valuation of the timber and make no allowance for the fact that it would take ten to twelve years to log the entire property, nor is the present worth of these logging proceeds taken into consideration by him. ... Neither would I conclude, however, that merely because there is no evidence of any discussion respecting interest, this necessarily establishes that this factor was not taken into consideration by the vendor in establishing its price. ...

In cross-examination when asked as to whether one of the primary things for a person in charge of a mine to do was to conduct the operations in such a way that as little rock as possible is mixed with the ore (this is called dilution) he stated that that was really a secondary consideration to the safety consideration of holding all of the particles of rock represented on the walls of that stope from falling and injuring men who are passing along the floor. ... The ease which it lends to the adaptability of mechanization is also a factor; but the prime consideration is always safety. ... That is the kind of consideration I am introducing here. So, that again is a factor, but I hold that they are contributory factors, and that the main and predominantly important factor is the use of a rock bolt as a safety measure.’’ ...