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Submission of the parties The appellants submission is that the salaries in question should be considered to be paid when the legal obligation to pay them was recorded in appellant's accounting books having regard more particularly to the fact that the appellant's pattern of paying such salary has been clearly established by the evidence. ... I cannot agree with the appellants submission that in the context of the aforementioned provisions of the Income Tax Act and the Income Tax Regulations the salaries payable to the two employees in question at the year-end of the appellants 1987 taxation year and effectively paid after such year-end are deductible by the appellant in its 1987 taxation year because they should be considered as paid within the spirit and intention of the Act on account of the existence of the obligation to pay such salaries. ... The Court in that case also considered the application of subsection 245(1) of the Income Tax Act, and found that the deduction in question did not result in an artificial reduction of income. ...

The credit note should not be considered apart from the transaction out of which it arises. ... That obligation must be considered as subsisting until satisfied or expired ... Arnold and the requirement that to provide financial information showed that the parties considered that the Appellant was assuming onerous clean up obligations ...

In a carefully considered judgment, by which the decision of the Minister of National Revenue affirming assessments made upon the respondent was set aside, Mr. ... In the present matter the franchise was sold outright, without any reservation, and thus the sale was of a different nature from that considered in Spooner’s case. While the agreement of June 6, 1940 referred to the percentages of the actual gross sales of gas as royalties, this, while a matter to be considered, is not decisive nor relieved us of the necessity of determining what was the real nature of the transactions. ...

Canada [1994] 1 C.T.C. 182, 94 D.T.C. 6086, where the Court considered the concept of value as opposed to cost. ... On the other hand, it is well established that the value for the person receiving the shares is not necessarily the par value of the shares. [10] This proposition has been considered again in the case of Praxair Canada Inc., supra, raised by counsel for the appellant. ... The plaintiff, therefore, wanted the value in terms of money of the right or thing to be included for tax purposes and, since the shares issued in payment of interest were valueless, the interest could not be considered as having been paid. ...

An arrangement remarkably similar to that in question was considered and the argument that the payment was interest was rejected in an English case, Walker & Co. v. ... The meaning of the predecessor was considered by the Federal Court of Appeal in Minister of National Revenue v. ... Sommers, [1959] S.C.R. 678, 31 C.R. 36, at page 685 (C.R. 42). 13 The amendment, by virtue of subsection 12(16), applies only to expenses in curred after 1987 in respect of borrowings occurring after 1987 and need not therefore be considered. ...

In his defence Loewen denied the assumption of fact and claimed that the $40,000 gain realized on the redemption of the debenture did not result from an adventure in the nature of trade and was not income from a business of his: it must be considered a capital gain. 4. ... It is a tantalizingly appealing argument that the promissory note be considered in isolation from the whole of the transaction; however, that is not the real story. What must be considered is the complete transaction and the reason the appellant undertook that transaction. 5. ...

Brown: [7] One factor to be considered is whether or not the alleged separate supply can be realistically omitted from the overall supply. ... These specialized services constitute a composite whole and were, for the purposes of this Act, correctly considered by the Minister to be a single supply. ... Since the subsequent services provided by the Appellant to purchasers of cattle at its auction include hay, water, straw, as well as storage and assembly, it is readily apparent that this constitutes a sale of services (a form of boarding) and cannot be considered the purchase of feed as a single supply of goods. ...

Bellomo testified, is not considered by the City to be work-related. Travel between another City site and Mr. ... In the normal course of events, her cost of travel between her residence and the administrative centre would be considered personal in nature. ... Respondent's counsel did not question this obvious fact. [18] There are at least two phrases in paragraph 8(1)(h.1) that need to be considered for purposes of these appeals. ...

There is no reason why any income earned by it should not be considered as prima facie income from a business so long as it is recognized that the presumption is a rebuttable one. ... “Principal purpose” is not a defined term in the Act for the purposes of paragraph 125(7)(e), but it is considered to be the main or chief objective for which the business is carried on. 13. The principal purpose of a corporation's business must be determined annually after all the facts relating to that business carried on by that corporation in that year have been considered and analyzed. ...

It is clear that the appellant, by virtue of the assessment under appeal, considered the amount, as the proceeds of a disposition, to be a capital receipt. ... Should the payment arising from the settlement, aside from the effect of subsection 14(1) on that determination, be considered in the hands of the respondent to be a receipt on account of capital or one on account of revenue? In all of the circumstances of this case its receipt should be considered, in my opinion, to have been on capital account. ...