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Shore J considered that it was reasonable of the Minister’s delegate to grant only partial interest relief under s. 220(3.1) respecting the assessed interest, on the basis that it was ultimately the taxpayer’s responsibility to decide whether it wished to apply its NCLs before the end of the normal reassessment period, which it had failed to do. He also considered that there was no procedural unfairness in the failure of the Minister’s delegate to consult the above Manual policy before granting only partial interest relief, indicating that the delegate should not have been expected to be aware of this policy and it was up to the taxpayer to bring the Manual to the delegate’s attention, which it did not do. ...

The CRA technical advisor considered that each breakthrough made was transferrable from one product to the other so that most of the projects lacked technological uncertainty. ... Regarding two of the projects where the CRA technical advisor considered there to be insufficient documentation, Rossiter C.J stated (at para. 110): Documentary evidence is not mandatory. ...

The Queen, 2015 DTC 1008 [at at 43], 2014 TCC 324, aff'd 2016 FCA 130-- summary under Subsection 39(2); Subsection 261(2) Summary Under Tax Topics- Income Tax Act- Section 39- Subsection 39(2) U.S. dollar principal of a convertible debenture should be considered on conversion to have been settled at the historical exchange rate when the conversion price was set Summary Under Tax Topics- Income Tax Act- Section 261- Subsection 261(2) U.S. dollar principal of a convertible debenture should be considered on conversion to have been settled at the historical exchange rate when the conversion price was set In 2002, the taxpayer ("Agnico") issued US-dollar denominated debentures which were convertible at the holders' option into common shares at a conversion price of U.S.$14 per share (or a conversion ratio of 71.429 per each U.S.$1,000 debenture). ... Agnico's alternative argument (at para. 43), that s. 51(1) "provides that on a conversion... there was no transaction that could give rise to a gain," was not considered. ...

Both Teitelbaum and the ARQ considered that the right of Teitelbaum under the RCA was a right or thing within the meaning of the Taxation Act (“TA”) equivalent of ITA s. 70(2). Teitelbaum considered that the amount was not distributed to her by the estate as contemplated by the TA equivalent of ITA s. 70(3), so that it was not taxable to her. The ARQ considered that the amount had not been received by her qua beneficiary of Lewin’s estate, but by virtue of a designation of her (in Lewin’s will) as a beneficiary of “all pension plans and any annuities purchased therefrom.” ...

CRA considered that there was a requirement to recognize deemed interest income on the notes under Reg. 7000(2)(d) given that, in contrast to the usual equity-linked notes that were available to investors at the time, these notes had “internal puts,” i.e., SLT had the right to terminate the notes at any time, on 367 days’ notice, at the market value of the reference assets. On this basis, it considered that the “the maximum amount of interest thereon that could be payable thereunder in respect of that year” was the difference between the maximum value of the reference assets at the end of the year and the maximum value in the prior years, and assessed accordingly, to treat such annual increase as foreign accrual property income of SLT under element C of the s. 95(1) FAPI definition. ... In any event, the SLT shares are OIF caught by Section 94.1 ITA if they may “reasonably be considered to derive [their] value, directly or indirectly, primarily from portfolio investments of that or any other non-resident entity”. ...

. … It is true that the Minister’s delegate considered whether the accrual of interest on the appellants’ unpaid taxes for the period in issue was due to circumstances that were beyond the taxpayers’ control …. ... While no explicit reference was made to paragraph 26(a) of the Information Circular in the Minister’s delegate’s decision, a review of that decision reveals that the appellants’ submissions with respect to processing delays on the part of the CRA were carefully considered by the Minister’s delegate. ... He considered the appellants’ submissions and explained why he was not persuaded that any additional relief was warranted …. ...

First, the Tax Court considered that the phrase “in the course of a commercial activity” entails an either/or test (whereas instead it did not matter that PC Bank paid those amounts in the course of its financial services business because they were also paid in the course of its commercial activity of “driving customers to Loblaws” (para. 24)). ... In the course of his extended dissenting reasons, Webb JA stated (at para. 125): Just as the scheme of the ETA does not contemplate that 100% of a particular property or service that is acquired can be considered to be used in both a commercial activity and a business of making exempt supplies, Parliament did not intend that 100% of a single payment that is made could be considered to be made in both the course of a commercial activity and in the making of exempt supplies. ...

In response to a submission of the Minister referring to the large investment portfolio held by the taxpayer, he stated (p. 5286): It may be said generally that although the source of the income of a corporation is an important element to be considered in determining which is its principal business it is not the only matter to be considered and not necessarily the determinant factor. ...

After noting that section 79, which applied to this transaction, had the effect of transferring the accrued loss on the (bad) debt owing to the taxpayer by his brother on to the Debentures owing by Shoppers that the taxpayer acquired from his brother, Hershfield J. found that in order for this preservation of loss to occur, the income-producing purpose attaching to the original advances made by the taxpayer to Shoppers should be subsumed in the purpose of the taxpayer in acquiring the Debentures of his brother, with the result that the loss claimed by the taxpayer in respect of those acquired Debentures should be considered to satisfy the income-producing purpose test in s. 40(2)(g)(ii). Furthermore, even if it were necessary to consider the purpose of the taxpayer in acquiring the brother's Debentures without relating back to the previous transaction, the fact that the taxpayer took the action of obtaining an assignment of the Royal Bank's security "necessarily implies a belief that the Debenture itself had potential value" (para. 47) so that there might be considered to have been a subordinate, albeit faint hope, of income in respect of the acquired Debenture, which would have been sufficient to satisfy the test in s. 40(2)(g)(ii). ...

No. 73, Meredith CJ synthesized the governing principles and articulated the following five rules respecting when property was a fixture, which he characterized as "settled law": (1) That articles not otherwise attached to the land than by their own weight are not to be considered as part of the land, unless the circumstances are such as shew that they were intended to be part of the land. (2) That articles affixed to the land even slightly are to be considered part of the land unless the circumstances are such as to shew that they were intended to continue chattels. (3) That the circumstances necessary to be shewn to alter the primâ facie character of the articles are circumstances which shew the degree of annexation and object of such annexation, which are patent to all to see. (4) That the intention of the person affixing the article to the soil is material only so far as it can be presumed from the degree and object of the annexation. (5) That, even in the case of tenants' fixtures put in for the purposes of trade, they form part of the freehold, with the right, however, to the tenant, as between him and his landlord, to bring them back to the state of chattels again by severing them from the soil, and that they pass by a conveyance of the land as part of it, subject to this right of the tenant. ...