Search - consideration

In the transfer of the property to the Kirks (Exhibit G), the appellant took the usual affidavit required of a transferor in Alberta, stating the total consideration to be $66,355 when, in fact, the actual consideration (exclusive of the chattels) was $72,355. ... He therefore concealed the fact from them (as was also done in the further document Exhibit 5) and swore to a false consideration. ... Moreover, there are other circumstances which must be taken into consideration. ...

The new company Albany Gold was incorporated, the assets of Albany River were transferred to it; the Winoga claims were acquired for the consideration of 220,000 shares of Albany Gold; and the shares of Albany Gold were allotted to Albany River, Winoga and the appellant in the manner prescribed. ... I have given it careful consideration and must reject it as insupportable on the proven facts. ... It is probably correct to say that the appellant issued more of its shares to Albany Gold as consideration for the transfer to it of mining claims on which development work had been done by Albany River (as well as by Albany Gold itself) than it would have done had such development work not been done. ...

This submission has given me some concern, but after giving it the most careful consideration, I have reached the conclusion that the Minister is not so precluded. ... The two items in dispute must receive separate consideration. The first item has already been mentioned. ... In respect to the first item, it may be necessary for the Minister to take into consideration the provisions of Section 20 and of the regulations passed under Section 11(1) (a) of the Income Tax Act, as well as the transitional provisions regarding depreciation. ...

The same considerations must apply to any variation of the same kind of transaction. If the company cannot give shares away tax free, then what is substantially a gift, such as a pretended sale for a nominal consideration, must be in the same position; and I cannot distinguish between a nominal consideration and an inadequate consideration. ...

At the hearing of the appeal I intimated that my view of the matter was as I have just stated, and on consideration, I find no reason to change it. ... With these considerations in mind, I now turn to the particular facts of this case. ... Counsel for the respondent submitted that the Court should take into consideration the comparative illiteracy of the respondent and his misplaced reliance on his accountant, Smith. ...

The fact that Section 82(7) makes no reference to sales that took place prior to the 1949 taxation year does not lead me to conclude, however, as appellant’s counsel does, that the depreciation allowed prior to the commencement of the 1949 year should therefore not be taken into consideration in connection with sales made prior to that date. It appears to me to be consistent with the scheme of the Act that this depreciation should be taken into consideration and a double deduction thereby avoided. ... When we come down to this it is indisputable that depreciation must be taken into consideration from an accounting point of view. ...

On the other hand, if one could put a value on the consideration passing from the appellants to Fortin for his interest in the options, that amount might be allowed. There is, however, no evidence before me on which such value can be determined and I doubt whether it would be commercially practical to evaluate such a consideration. ... Georges Lagacé became owner of all of the ordinary shares and the two appellants received preferred shares, the only consideration being Mr. ...

If the payment had been in respect of a balance of profits due to the appellants by the Dutch Company for the years 1914 to 1927, different considerations might have applied, but it is agreed that it is not to be so regarded. ... (Italics added.) and further at p. 218: Provision was made in the agreement for commissions at specified rates for making sales of meters and so it appears to me that this is not included in the consideration for the 2^ per cent commissions. ... It is not possible briefly to formulate the distinction exhaustively or with complete accuracy, as the circumstances may vary infinitely; but a sufficient indication of the relevant consideration is found by contrasting such cases as Van Den Berghs, Lid. ...

The consideration expressed in the agreement was $45,000 payable in ten equal yearly payments and it is this amount which the appellant contends should be taken as the starting point for the purpose of calculating capital cost allowance on the gravel pit. ... Reference was made to the word ‘‘did’’ as supporting the appellant’s position but when the subject to which the verb applies is considered as referring to property of the taxpayer whose assessment is under consideration the contention appears to me to be untenable. ... Moreover even if, as I think, the definition of “depreciable property’’ in Section 20(5)(a), as amended since the decision in the Caine Lumber case, is inapplicable to that expression in Section 20(4) when the nature of the property while in the hands of the ‘‘original owner’’ is under consideration the reasoning of Locke, J. in the Caine Lumber case appears to me to indicate that the sand and gravel pit, being a wasting asset when used for that purpose, is to be regarded as “depreciable property’’ in the ordinary sense of that expression. ...

Chipman and on the residuary beneficiaries in her will were under consideration. ... Cartwright and Fauteux, JJ. stated that they regarded this question as difficult and doubtful, and added: “If it were necessary to decide this question, careful consideration would first have to be given to the appellant’s argument that the wide terms in which the power given to Dr. ... The question under consideration there was whether there was a passing on the death and that judgment, of course, is not directly applicable to the instant case. ...