Search - consideration

These four properties were transferred to the appellant on March 22, 1956 in consideration of $55,135.86 being the cost thereof to Messrs. ... After giving careful consideration to all the evidence, I am not satisfied that there was a balance of probability that the appellant acquired the Smith Street and Donald Street prop- erties for the purpose of deriving rental income from them to the exclusion of any purpose of disposition at a profit. ...

The provisions of Section 40A pertinent to the present appeal read as follows: “40A. (1) There may be deducted from the tax otherwise payable for a taxation year by a manufacturing and processing corporation an amount determined by the following rules: ’ (The detailed rules for determining the amount of the deduction are then set out but are not reproduced here since they are not material to a consideration of the present appeal.) “(2) In this section, (a) ‘manufacturing and processing corporation’ means a corporation that had net sales for the taxation year in respect of which the expression is being applied from the sale of goods processed or manufactured in Canada by the corporation the amount of which was at least 50% of its gross revenue for the year, but does not include a corporation whose principal business for the year was (i) operating a gas or oil well, (ii) logging, (iii) mining, (iv) shipbuilding, (v) construction, or (vi) a combination of two or more of the classes set out in subparagraphs (i) to (v) inclusive; (Paragraphs (b) to (d) are not reproduced herein.) (3) For the purpose of paragraph (a) of subsection (2) (a) goods processed or manufactured shall be deemed not to include goods that have been packaged only...’’ ... Therefore consideration herein is restricted to the appellant’s sale and preparation of carrots and potatoes. ...

Counsel for each of the parties took the position in this Court that this section applies to the policy under consideration; that, under this statutory provision, the deceased could have, during his life, designated a beneficiary to receive the death benefit under the policy; and that, if he had done so, such beneficiary would have been entitled, after the death of the deceased, to enforce payment of it. ... There is, however, a vital difference between Section 31(1) (a) of the Estate Tax Act, which cannot be applied unless there was property of which the deceased was competent to dispose “immediately prior to his death’’ and the comparable provision under consideration in that case, which refers to property of which the deceased was competent to dispose ‘at the time of his death’’. ...

The facts are disclosed in the headnote which reads: “By certain contracts entered into between the suppliant and His Majesty the King, represented by the Minister of Public Works for the province of Quebec, the suppliant undertook to erect the structural steel superstructure of three bridges in that province, in consideration of the sums set out in each contract. ... I think, in this respect, the practice of the Department is right. ’ After careful consideration of that case, I am unable to distinguish it from the one now before me. ...

The argument is persuasive and I must admit that on first consideration I felt it had considerable merit. Upon further consideration, however, and after examining the provisions of subsection (6) and endeavouring to ascertain its true purpose and meaning, I have reached the conclusion that it must be rejected. ...

On March 11, 1950, Jacob Mayer transferred the land, including the building, to the appellant for the expressed consideration of $24,500 and on the same date gave it a bill of sale of his other assets for the expressed consideration of $35,500. ...

While the appellant’s submission appears attractive at first sight and merits consideration I am of the opinion that it is unsound and must be rejected. ... Thus the context sets the meaning of the word ‘‘year’’ in the expression under consideration as “taxation year’’, for the whole scheme of deductibility of losses applies only in the case of losses sustained in taxation years. ...

The consideration payable therefor to Colvin was 400 shares of the 7% cumulative preferred stock of McCaskey Systems Ltd. and $35,000.00 payable as therein provided. ... McLauglin’s 400 preferred McCaskey shares, together with dividends which had accrued, and the balance of the expressed consideration. ...

Coming to the consideration of the legal effect of the finding or appeal of this departmental officer, it must be pointed out that the appellant proceeded with his appeal before the Commissioner without taking any objection to his jurisdiction or authority to hear the same. ... Lowry (1926) 43 T.L.R. 116 came up for consideration. The head note reads as follows: "‘The appellant, who was an agricultural machinery merchant bought a gigantic consignment of linen and set to work to make people buy it, and he succeeded in selling it within a year by organizing a vast activity for that purpose. ...

Upon a careful consideration of the matter it is my opinion that sec. 86(1) of the Act is conclusive of the issue, and that the sales of goods in question. here, delivered after June 2, 1931, were liable to the sales tax at the rate of four per cent upon the sale price, at the time of delivery. ... Coming now to a consideration of the second proviso to sec. 86(1) (a) and which I have just above quoted. ...