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When the question was considered by the Tax Court, His Honour Judge Taylor answered it in the negative. ... Therefore, one cannot help but wonder how the legislators could have failed to have considered the scenario presently before this Court. ... The background to section 63 in its prior form was considered at length by the Canadian Human Rights Tribunal in Bailey et al. v. ...

At the time of the wind-up MFM was the sole shareholder of Rock Road and the non-capital loss of Rock Road was considered to be a non-capital loss of MFM. ... The respondent further takes the position that Rock Road always intended that the series of transactions in issue may reasonably be considered to have artificially or unduly created a loss from the disposition of the 14.56 Roberge shares. ... There was no evidence that the acquisition of the Roberge shares by Grundy was considered by the shareholders of Shantz or by any other of the Shantz group of companies. ...

He also noted that the appellant's activities could have been considered to be processing if the changes made to the materials had been made to comply with customers' wishes. ... M.N.R., supra, and one of the steps in their preparation consisted of packaging the vegetables, then the packaging activity would be considered "processing" even though it did not change. ... Activities carried on by a scrap metal dealer, such as sorting, removing contaminants, grading, cutting to size and baling, in order to make raw scrap saleable are considered qualified activities. ...

As a result, TD could not claim the loss because the circumstances in which it had occurred “may reasonably be considered to have artificially or unduly … created a loss from the disposition” ... (i) statutory scheme [31]            Former subsection 55(1) of the Act provided as follows.  55. (1) For the purposes of this subdivision, where the result of one or more sales, exchanges, declarations of trust, or other transactions of any kind whatever is that a taxpayer has disposed of property under circumstances such that he may reasonably be considered to have artificially or unduly … (b) created a loss from the disposition, or (c) increased the amount of his loss from the disposition, the taxpayer's gain or loss, as the case may be, from the disposition of the property shall be computed as if such reduction, creation or increase, as the case may be, had not occurred. 55. (1) Aux fins de la présente sous-section, lorsque les circonstances dans lesquelles ont été effectuées une ou plusieurs opérations de vente ou d'échange, ou autres transactions de quelque nature que ce soit, permettent de croire raisonnablement que le contribuable a disposé d'un bien de façon à artificiellement ou indûment […] b) occasionner une perte résultant de la disposition, ou c) augmenter le montant de sa perte résultant de la disposition, le gain ou la perte du contribuable, selon le cas, résultant de la disposition du bien, est calculée comme si une telle réduction, perte ou augmentation, selon le cas, ne s'était pas produite   [32]            Subsection 55(1) was repealed by subsection 33(1) of S.C. 1988, c. 55, and ceased to apply to most transactions entered into after September 13, 1988, when it received royal assent. ... The interpretation of words in such provisions was considered in Canada v. ...

Paragraph (d), the one in question in this appeal and which reads ‘‘That the share of the Creditors in the net profits of the business for the fiscal year ending March 31st, 1956, is hereby fixed at $300,000.00’’ must be considered in the light of the evidence given at trial part of which has been set out above. ... Clark, [1935] A.C. 431, the House of Lords considered a payment of £450,000 by a Dutch company to an English company made in the year 1927, to settle the claim of the English company, the appellant for a share in the profits of the Dutch company during the First War and for the release of their right to a share in the profits which might be earned by the Dutch company in the years following and up to 1940. ... (H.L.) 112, 115, ‘There is no relation between the measure that is used for the purpose of calculating a particular result and the quality of the figure that is arrived at by means of the test.,,, If the arrangement arrived at by virtue of the agreement of February 1, 1956 (Ex. 3) is, as I have found it to be, a sale of partnership assets by the various partners to the continuing partner and included in those assets the right of the retiring partners to share in any profits of the partnership, either those which would be earned before the agreement or those which would be earned thereafter, then I am of the opinion that the authorities quoted require the sale price to be considered as a capital receipt, and I am of the opinion that if, when the sale price was calculated by including as part thereof an estimate of the already earned but undistributed profits, the same result applies. ...

Carroll admitted that, other than promoter fees (which are not the subject of the Requirement Order), there is no impact on a taxpayer’s tax liability where the taxpayer merely considered a transaction of the type described in Mr. ... Similarly, there is no impact on a promoter or intended promoter’s tax liability where the promoter or intended promoter merely promoted or considered promoting a Lossco transaction ... A list of corporations, persons or entities known to Cormark who were considered to promote a Transaction as defined above even if the Transaction was not completed.   4.       ...

He considered the submissions carefully and gave extensive reasons for his ruling that the documents were admissible subject to their relevancy being established. ... He considered that the affidavit should state that the Minister or Director had reasonable and probable grounds for holding the requisite belief. ... In the circumstances of this case, the Charter need not be considered. ...

Prévost who, according to the rumours circulating at the time, did not want to be considered as Mr. ... Furthermore, I am of the view that, although the conclusion was reached that the appellant’s advances to Prodimpex did not constitute running expenses, one could not reproach it to the appellant under subsection 152(4) which relates to negligence, etc., just as one could not do so for a taxpayer who would have considered the business profit resulting from the disposition of a property as a capital gain. ... This transaction may therefore be considered as part of the normal operations of FPI, which carried on a real estate brokerage and real estate purchase and resale business. ...

Proulx-Drouin states that she agreed to guarantee Société's line of credit because:   a)     she believed she held a 12.5 per cent interest in the Trans Canada building;   b)    she considered the building's difficulty only temporary and that the Trans Canada building was potentially profitable;   c)    Société had financed the renovation of another building ("Bélanger building") in which she held a 8.33 per cent interest; and   d)    her husband promised to transfer to her one‑third of the shares he owned in a corporation, Lapidia Inc. ... Because she believed Société was still providing services in 1996, she considered the debt good, notwithstanding the bank's actions ... The BNC apparently considered the debt bad in 1995; there was no evidence that Société's financial situation was any better when Mrs.  ...

The subjective statements of intention by the plaintiffs must be considered along with objective facts. ... I fail to follow that a debt forgiven could be considered to be income under normal conditions other than by a deeming section. ... Statements as to intention must be considered along with the objective facts. ...