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It is the substance and the reality of the transaction that should be considered, rather than the form in which it was expressed). ...

The courts have repeatedly held that a secondary intention of turning acquired property to account to be considered as an assumption capable of affecting the assessment, must be proven to have existed in the mind of the taxpayer at the time of the acquisition, concurrently with some other declared intention, and must constitute one of the motivating factors in acquiring the property. ...

As a result of certain deductions and adjustments, the loss was reduced to $58,992.23, in accordance with the following detailed statement: Declared loss ($93,235.09) Deduct: Undeclared sales $22,704.90 Deferred sales $ 2,042.88 Credit note re contract 535-2905-1 which applies to 1973 $ 1,111.28 Underestimated current earnings $68,639.03 $94,498.09 $1,263.00 Deduct: Adjustment to 1973 current earnings $159,003.00 Less: Amount already considered to arrive at loss for the year $ 99,160.55 $ 59,842.45 Additional amortization (see attached table) $ 412.78 $60,255.23 Adjusted loss applied to 1973 $58,992.23 Of the amounts deducted, only the sum of $22,704.90 is on appeal. 3.18 This sum of $22,704.90 includes $18,745.47 of disallowed expenses and $3,959.43 of unrecorded sales. 3.19 The respondent moved to dismiss the appeal as to the year 1974. ...

With regard to the amended reply to the notice of appeal filed by the respondent, counsel for the respondent stated that the Tax Review Board possessed, and in the past had often exercised, a reasonable flexibility and latitude in its acceptance of the scope of the law and the facts to be considered in an appeal before it, when one or other of the parties made a motion to amend its pleading in order to make a fuller and more thorough presentation of its case. ...

4.3.3 In order to give an adequate reply to this question, it would appear that the following points should be considered: 1. ...

Canada, 2010 FCA 309 [Fundy FCA] at para 56). [23] The case law is therefore clear that the common law test for determining the residency of a corporation is where its “central management and control” actually abides and various factors need to be considered to make that determination, including, generally, where the directors exercise their management and control. ...

Advocates general are considered advisers to the court and do not participate in the court’s decision-making process. ...

Further, these decisions are not particularly consistent; however, they do fall into two identifiable lines of cases. [22] The first line of reasoning holds that since a taxpayer has an alternative, safer method to calculate instalment payments, namely that proposed by the Minister or the previous year method (which considered a previous section of the Act), the taxpayer should do so. ...

It might be mentioned in passing, although the decision of the case does not depend on it, that it is evident that a monthly payment of $750 even if escalated according to the cost of living index, together with the provision of a house with all expenses in connection with it paid out of the estate, would not seem to be sufficient to in any way maintain a standard of living equal to that which the widow enjoyed prior to the testator’s death when it is considered that the aggregate net value of the property passing on his death was over a million and three-quarters dollars, which even on a very conservative basis would be anticipated to yield an annual income of not less than $150,000. ...

It is abundantly clear that they must each be considered as only having owned one share of the capital stock of the company and that the Minister was correct in reaching this conclusion on an examination of the company’s books. ...