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Stapells, that the appeal should be allowed and the assessment referred back to the Minister with a direction to refer the appellant’s standard profits claim back to the Board of Referees for consideration under subsection 3 of Section 5. ... It is true that the appellant’s application was made generally under Section 5 of the Act, without any request for consideration under subsection 1. ... Only one of them requires consideration. There is no validity in the argument that the decision of the Board was a nullity because only two members were present at the hearing. ...

An agreement bearing date April 1, 1961 was entered into between Encyclopaedia Britannica of Canada Ltd. et al. and another wholly-owned company of the appellant called Educational Publications Limited, whereby the latter company was granted ‘‘the exclusive right, franchise and licence to distribute and sell’’ certain of the grantor’s publications in consideration of paying to the grantor an amount equal to 55 per cent of ‘‘net sales”. An agreement bearing the same date was entered into between Educational Publications Limited and Encyclopaedia Britannica Sales Limited whereby it assigned that franchise to Encyclopaedia Britannica Sales Limited in consideration of a promise by the latter company to pay the assignor one and one- half per cent of the sales. ... For example, as late as May 30, 1961, as appears from the solicitor’s letter of May 31, 1961, the appellant was being advised as to what amount should be put in the agreement as the consideration for the accounts receivable, and, in August, the solicitor submitted a draft of the agreement that differed, so far as material terms are concerned, from the agreement finally executed on October 4, 1961. ...

And probably it was on practical considerations that it was deemed undesirable to make any provision for appeals where a tax on sales of goods is imposed by reference to their value, and where the tax has so wide an application. ... I come now to a consideration of the provisions of the Special War Revenue Act relevant to the matter to be decided here. ... The phrase ‘‘fair price ” is a commercial term and not a legal term, and it involves a question of fact, into which many considerations may enter. ...

The letters patent states that ‘‘the capital stock of the said company shall consist of two million (2,000,000) shares without nominal or par value, subject to the increase of such capital stock under the provisions of the said Act; Provided, however, that the said shares may be issued and allotted for such consideration as may be determined from time to time by the Board of Directors, not exceeding in the aggregate the sum of two million ($2,000,000) dollars or its equivalent.” ... The consideration was the issue to the Old Company of certain fully paid shares of the capital stock of the appellant company and the assumption by the latter company of the liabilities of the former company, as of the date when the agreement was approved by the Old Company. ... In 1908 the company entered. into an agreement to lease a concession in Korea which it had acquired in consideration of the lessees paying what was therein described as a royalty, but which was in fact a percentage based on the profits made by the lessees. ...

In 1941 therefore, the Appellants were operating all these berths under Provincial licenses, identical in character, except as to the consideration and description of the property. ... But, in fact, in this particular case the discretion of the Minister does not seem to have been used in any arbitrary way as will appear from a consideration of all the facts. ... Failing such an agreement the Minister would have had to give similar consideration to the facts disclosed to him. ...

In the first instance the Minister disputes that the note in question was given solely in consideration for the acquisition or cancellation of the exclusive sales contract and says that the appellant received other benefits as well. ... This, therefore, brings me to a consideration as to whether the outlay was for an asset falling within the capital cost allowance regulations made under Section 11(1) (a) of the Income Tax Act quoted above. ... His entire inspection of the land and consideration of the factors involved took less than 45 minutes. ...

In doing so, consideration has to be given to the question as to whether or not municipal and provincial taxes should be considered as proper deductions. ... I have no doubt that I am entitled to enter upon such a consideration. ... He did take them into consideration and for all practical purposes adopted them in their entirety in the Regulation, and in my view was entitled to do so. ...

In a consideration of it, the question of whether the payments under the mortgage in question can be regarded as payments of principal, or interest, or both principal and interest, is 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 are made.” ... It also, in my opinion, would have the effect of permitting evidence with respect to the reasonableness of the consideration for such depreciated property to be adduced notwithstanding the ordinary rules of evidence which, as suggested by counsel for the respondent, might apply here to prevent contradiction by oral evidence of the terms of a ‘written document’.” ... Par voie de défense, l’intimé prétend que, nonobstant l’admission qu’en règle générale les taux d’intérêt ci-haut mentionnés s’imposent, il s’agit ici d’un cas d’espèce comportant une circonstance spéciale et que, par conséquent, elle mérite considération exceptionnelle. ...

Cela étant, les modalités de paiement de l’hypothèque et des actions sociales, réparties sur 33 ans, n’influent guère sur le contexte juridique de l’affaire, à moins qu’une disposition de la loi n’en autorise la considération. ...

In my view, it does not become any the less a capital transaction when the real consideration for the shares is a contribution to the company of property required as a capital asset for the proposed business of the company. ...