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Similarly, respecting the divestiture-related fees of Lazard Frères incurred up to board approval of a butterfly spin-off, these related to advice and approaches to potential third-party purchasers of the shares through which the laminated products business was held as well as to the ultimate sale (on a rollover basis) of the shares of that laminated products company to Novelis in consideration for the acquisition of (subsequently redeemed) preferred shares of Novelis, and the calculation of the Lazard Frères success fee did not represent a percentage of the value of those shares – so that those fees also were deductible under s. 20(1)(bb) as well as under s. 9. ...

In August 2006, the trustees of the Family Trust transferred a directly held portfolio on a rollover basis to a limited partnership (“CAL Equities”) in consideration for a limited partnership interest. ...

Pursuant to a Declaration dated March 31, 2007, the taxpayer, in consideration for the “Amount” of US$160,033,328 and CHF 80,000, relinquished to GI his claims to the PPU and GS, and assigned all his GH shares to GH. ...

In concluding instead (at para. 145) that “income taxes at the shareholder level should not be taken into consideration in the determination of the fair market value of the shares of Holdco,” Lafleur J stated (at para. 150): [T]here is no reason to believe that Holdco will be liquidated in the near future. ...

The conditions between mutually independent CFC and CAHPL could, however, include CAHPL situated within the Chevron group and CAHPL being subject to the direction of Chevron for the benefit of the Chevron group. 93 In such circumstances, were CAHPL seeking to borrow for five years on an unsecured basis with no financial or operational covenants from an independent lender, in order to act rationally and commercially and conformably with the interests of the Chevron group to obtain external funding at the lowest possible cost consistently with any relevant operational considerations, it would do so with Chevron providing a parent company guarantee, if such were available. 94 In the light of the evidence as to Chevron’s policy concerning external funding and its willingness to provide a guarantee to achieve that end the above is the natural and commercially rational comparative analysis when one removes the controlled conditions operating between CAHPL and CFC and replaces them with the condition of mutual independence. 95 In the circumstances there would have been a borrowing cost conformable with Chevron’s AA rating, which, on the evidence, would have been significantly below 9%. ...

Commissioner of Income Tax, International Taxation – 3, Delhi & Anr. (2017), Civil Appeal No. 3849 of 2017, 15 SCC 602-- summary under Article 5 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 5 UK company with operational control over annually-recurring 3-day Grand Prix races in India had a PE (the racing circuit of a local company) A U.K. corporation (“FOWC”), which held all rights to commercially exploit the Formula One World (car-racing) Championships by virtue of an agreement with another company (“FOAM”), entered into an agreement (the “RPC”) with an Indian corporation (“Jaypee”) that, in consideration of US$40 million payable by Jaypee, Jaypee would host, stage and promote the Formula One Grand Prix event at a commercial racing circuit in India (the “Buddh International Circuit” or “circuit”) to be constructed by it (with FOWC also having the right to exploit the TV feed for the events, which it assigned to an affiliate). ...

The Crown’s concern “that the at-risk rules could be avoided entirely if the top-tier partnership (MLP) were a general partnership” (para. 31) did not outweigh other considerations. ...

The authorities establish that interest income may be derived when accrued and that the taxpayer’s business and income earning activities, and the place of interest income in that business or activities, are relevant considerations to whether interest has been derived, in the sense of having come home, when accrued or only when received. … SRC[‘s]…assets during that period were essentially cash and receivables, intracompany debts and shares in its subsidiaries. ...

Finally, he stated (at para. 436): [T]he fact that the reasonably expected gross income is expected to be realized on December 31, 2028 is not a consideration raised by paragraph 20(1)(c) of the ITA. ...

However, after stating (at para. 22) that he accepted the conclusion in Sherway Centre that “an amount paid as compensation for the use of money for a stipulated period can be said to accrue day-to-day,” McEwen J found that the Discount Fee constituted interest, stating (at para. 45): … [I]t is my view … the Discount Fee meets the three … elements of interest: it is consideration or compensation for the use or retention of money owed to ClearFlow; it related to the principal amount; and, it accrued over time (literally day-to-day). ...