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., it lacked covenants of LLC5 and BGI to ensure the flow of dividends to LLC5 to service the loan), the Tribunal stated (at paras. 75-76): Third-party covenants that were not given as part of or in support of the actual transaction cannot be considered to be part of the hypothetical transaction as this materially changes the surrounding circumstances and alters the economically relevant characteristics of the transactions in question. … [A]n independent lender would not have made a $4 billion loan to LLC5 without such covenants being in place and that important finding should itself have determined that there was no comparable arm’s length transaction. ...

The lower relief for the 2014 application was considered by CRA to reflect the application to those applicants of the prohibition, after a 2005 amendment to s. 220(3.1), to going back more than 10 years with interest relief. ...

In summarizing an ARQ submission, Kalichman JA stated (at para. 24): The ARQ places particular emphasis on s. 32(7) of the CCAA, which provides that parties, like the Suppliers, who suffer a loss in relation to disclaimed contracts, are considered to have provable claims. ...

The taxpayer claimed that it was only from a December 2020 phone call with CRA that he learned that CRA considered that he had made an excess contribution in 2012. ...

There is nothing in the language of this provision that explicitly provides that the separate existence of the two corporations (Emergis and NSULC) is to be ignored and that the income of NSULC is to be considered to be the income of Emergis. ...

Turning to the neglect or carelessness branch of s. 152(4)(a)(i), he stated: [T]he Appellants did not seek an independent valuation and cannot be said to have thoughtfully, deliberately and carefully considered whether the proposed IPO would affect the share price. ...

Even if, after completion of the Facility, the supplies made to the residents were a single supply of health care services, it nonetheless should be considered that the Appellant satisfied the test in s. 191.1(2)(b) that “possession or use of at least 10% of the residential units in the complex is intended to be given for the purpose of their occupancy as a place of residence or lodging by …seniors,” as was implicitly accepted by the Appellant in treating itself as subject to the self-supply rule in s. 191(3). ...

The Court further found that the Court below had not erred in applying Vancouver Metal Arts to find that Boeckh was a trader or dealer in light of the following findings: A qualified investment professional (an experienced CFA) devoted himself full-time to managing Boeckh’s portfolio; The portfolio had what was considered to be a high turnover (of around 30%) and there was a high absolute number of transactions. ...

In denying the applications, the CRA delegate recognized BANA and EY as highly sophisticated entities and considered that a high degree of care and diligence was to be expected, and that this had not been demonstrated by merely accepting a statement from a departing employee that the adjusted tax credit amount was not greater than $500,000 in 2017 when the ITCs claimed for 2017 were in excess of this amount, yet no analysis had been performed in this regard. ...

He then intimated (at paras. 316-319) that he considered a tax benefit to be doubtful here since it was difficult to posit an alternative reasonable transaction under which dividends had instead been paid to the Barbcos but Husky had failed to withhold at the 15% Barbados rate and noted (at para. 317) that the "record shows that Husky withheld at the 15% rate on all dividends paid to the Barbcos" and that "Husky has no tax liability to reduce unless Husky fails to withhold at the applicable rate". ...