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While it was an intangible right, I think it would normally be considered a proprietary right—something which the respondent possessed to the exclusion of all others and quite apart from the fact that by the provisions of Section 139(1) (ag) the word ‘property’ includes ‘a right of any kind whatsoever’. ... Had that right been purchased, for example, by an investment corporation, the right in its hands would, I think, have been considered as a capital asset. ...

., [1963] 2 All E.R. 658, considered; Quance v. The Queen, 74 DTC 6210; Livesley v. ... Such litigation would have to go through the Board of Tax Appeals or direct to the Exchequer Court with a final appeal, in appropriate cases, to this Court… In my view, the present situation with respect to income tax on this award of “an identifiable sum for loss of earnings” must be considered legally insecure. ...

Kelly 3, that the intention with which a transaction was entered into is a feature that should be considered under the British Income Tax Act. ... But it is equally well established that enhanced values obtained from realization or conversion of securities may be so assessable where what is done is not merely a realization or change of investment, but an act done in what is truly the carrying on, or carrying out, of a business; or, in the language of the judgment from which this quotation is made, which follows in sequence after the passage cited: What is the line which separates the two classes of cases may be difficult to define and each case must be considered according to its facts; the question to be determined being—Is the sum of gain that has been made a mere enhancement of value by realizing a security, or is it a gain made in an operation of business in carrying out a scheme for profit-making? ...

Whether a transferee would be bound by the covenants need not be considered here in view of the fact that it had previously been determined by this Court [5], that as between the appellant and the City the latter was entitled to share in the expropriation compensation. ... In support of the contention that the land, having regard to the affirmative building covenants, was bought as an investment, it was submitted that (1) the appellant had not traded in land from 1947 until the transactions for the Howe Street and Bellevue properties; (2) the expropriation as a compulsory acquisition by the Province could not be considered a disposal; (3) the appellant had a continuing intention to construct buildings for revenue on the property and the expropriation frustrated this intention; (4) the Province made [Page 59] its expropriation intention known within five months after the appellant acquired the Bellevue property so that there was no such lapse of time to support an inference that the land was being held for a favourable sale; (5) the appellant had, in fact, commenced demolition of structures already on the property (before becoming aware of possible expropriation) in order to prepare it for the construction of new buildings; and (6) it rejected certain overtures made to it by others for purchase of the property. ...

This clause was considered in the case of Minister of National Revenue v. ... It cannot be said here that the expenses of the appellant had been incurred in the process of earning the income and more particularly such expenses cannot be considered as having been incurred "wholly, exclusively and necessarily" for that purpose. ...

The ‘‘services rendered’’, which the learned judge considered the payments were for, were the employment of the respondent’s time and effort as above, including the placing of the manufacturer’s name ‘‘first on the order form’’ used by the respondent as well as on the first page of its catalogue. ... The learned trial judge considered that it was not the intention of Smith Brothers to be a party to the “dumping” of goods into Canada. ...

It is to be remarked however that this statement was not. necessary for the decision of the case, for the betting in question was not considered as unlawful, although of course no action would have lain to recover the bets. ... The learned trial Judge also considered that the appellant should not be heard to invoke ‘‘his own turpitude to claim indemnity from paying taxes and to be placed in a better position than if he were an honest and legal trader. ’ This appeal, however, must be decided solely on the case stated by the parties. ...

Of course, the appellant cannot be considered as exercising a “profession” within the meaning of that word in the usual language, but he relies on the use of the word “profession” in section 7(b) of the Act, and he claims to be entitled to the exemption therein provided. ... Of course, in order to claim the exemption, the appellant had first to show that his profits depended entirely, or at least mainly, upon his personal qualifications, but the proviso in the section must also be considered. ...

The payment arose from what were considered the necessity of the practices to the earning of the income. ... When the series of agreements which are exhibits in the present case are considered against the background of Mr. ... I am not getting into whether it is a capital gain or profit, but it represented what we might normally call the capital gain, whether it was considered profit or what it was considered. ...

The charging section is section 9, of which subsections 3 and 4 must first be considered in this case. ... In a very fully considered judgment the Board confirmed the assessments made by the Commissioner of Income Tax. ... This claim was made before the Board and, although it does not seem to have received as much consideration there as it did before us, it was considered by them. ...