Search - considered

While the appeal to the learned trial Judge concerned the tax imposed upon the appellant in regard to all three of his activities and the appeal was dismissed, the reasons for judgment make it clear that in coming to the conclusion that the appellant was carrying on a business he had considered only the activities of the appellant in connection with the investment of his moneys. ... From this I infer that the learned trial Judge considered that the failure of the appellant to produce further evidence as to the manner in which he had carried on these activities in two or three of the years preceding and following 1940 justified the inference that he was selling securities at a profit and replacing them by others at lower prices, in the hope of disposing of them later at a profit, and that accordingly he was not merely investing his moneys in the manner indicated in the passage first above quoted. ... Under these circumstances, it can scarcely be suggested that the appellant intentionally held back any facts from the Court: if particulars of the investments made in these other years had been considered of importance the information could readily have been obtained on the cross-examination of the appellant. ...

Accordingly the only question to be considered is whether the profit which was undoubtedly realized in the present matter is a profit from the business carried on by the appellant. ... C.].R. (1927), 13 T.C. at p. 1102 where he said that he had considered that it was a ease where they had some capital lying idle and they embarked upon an exchange speculation. ... To what extent they touch such eases arising’ under the income War Tax Act need not here be considered. ...

The facts to be considered are, however, not identical and the appeals must be considered separately. ... The company then appealed to the Income Tax Appeal Board and, in a considered judgment delivered by Mr. ... The matter is to be considered without reference to the amendment made to Section 127 by Section 31 of chapter 29 of the Statutes of 1952, by which the expression was defined. ...

If, therefore, the reserves assessed in this case could properly be considered as assessable income of the Association, if no question of agency were involved, they can still be considered as income and the tax thereon a claim which the growers have authorized the Association to pay. ... What is considered to be a profit or gain arising from a trade or business has been discussed in numerous cases. ... [Page 411] On the argument numerous cases were cited to us for the purpose of shewing when a company’s surplus would be considered “profits or gains of a trade or business” and when it would not. ...

But goods in bales or other large packages unusual among Indians shall not be considered as goods belonging bona fide to Indians". ... But Goods in Bales or other large Packages unusual among Indians shall not be considered as Goods belonging bona fide to Indians. ...

II, c. 29,—the aggregate value of the property passing on the death of the deceased, the Minister included the property mentioned above which he considered as property coming within that description. ... The donation to be made by me to THE ROYAL TRUST COMPANY for the benefit of my said daughter AGNES HENRY WILSON, shall be considered as a payment to my daughter in advance on account of her share in my estate & in the division of my estate the TRUST PROPERTY mentioned in said Deed, or the securities representing the same at the time of my death, shall be considered as of the value of FIFTY THOUSAND DOLLARS. ... M.N.R. [6] and Wanklyn and others v: M.N:R. [7], to which we were referred by appellants, differ, fundamentally and in more than one way, from the one here considered. ...

In the Minister’s view the latter unnamed institutions could not be said to be charitable organizations within Section 7(1) (d) nor could the gifts—whether to the trustees or to the ultimate recipients—be considered absolute and indefeasible. ... John Frederick Pemsel, [1891] A.C. 531; that the evidence established that the alternative “educational institutions” which the trustees of The Harshman Foundation could select for the purpose of paying them the income from the fund of The Harshman Foundation instead of to either or both of the Institute of Citizenship or the Macdonald Institute, were intended by the deceased to be only educational institutions in Canada* [1]; and that the purposes of the gifts inter vivos and by the will in this case were ‘‘absolute and indefeasible’’ within the meaning of Section 7(1) (d) of the Estate Tax Act as judicially considered in the Guaranty Trust Company of Canada in the capacity of Executor of the Will of Dorothy Elgin Towle, deceased v. ... M.N.R., [1941] Ex.C.R. 33; [1940-41] C.T.C. 330, were all cases where the Court held that under the relevant statutory provisions being considered in each, the trust was not a “charitable institution”. ...

I dare say that even if at the time the Regulations were made no province had been levying mining taxes on profits including processing, paragraph (b) could not properly have been considered useless. ... It must now be considered that in paragraph (a) the expression used to describe the taxes for which a deduction may be allowed is ‘‘taxes paid, in respect of his income derived from mining operations in the province’’. ... I do not doubt that it is in pari materia and should be considered, if necessary, in construing the regulation just as the Rome Convention was considered in construing the Copyright Amendment Act intended to implement it. ...

In the matter under appeal,- however, what is being considered is not income for the year from all sources but income from a source other than the company’s mining business, namely, the income from its short term investments/’ (The italics are my own.) ... This income from the short term investments cannot be regarded as incidental income in the operation of the mine any more than any other income gained from use of the profits of the mine could be so considered. ... It would seem that the income from such short term investments could not possibly be considered as "profits for the taxation year reasonably attributable to the production of... prime metal or industrial minerals...”. ...

Accordingly the only question to be considered is whether the profit which was undoubtedly realized in the present matter is a profit from the business carried on by the appellant. ... C.I.R. (1927), 13 T.C. at p. 1102 where he said that he had considered that it was a case where they had some capital lying idle and they embarked upon an exchange speculation. ... To what extent they touch such eases arising under the Income War Tax Act need not here be considered. ...