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II It will not be necessary to comment further on the reasons for decision of the trial judge since the argument as to statutory interpretation made by the appellant on appeal was not placed before or considered by the trial judge, but, if right, undercuts his reasons for deciding the case as he did. ... Paragraph (1)(c) refers to "exempt loss" and need not be further considered. ...

The learned judge therefore allowed the appeal and referred the assessment back to the Minister of National Revenue for reconsideration and reassessment on the basis that a valid election had been made by the defendant pursuant to subsection 26(7) of the Income Tax Application Rules, 1971 and therefore in effect that the costs of the Foamcoil shares to the defendant should be considered to be $3.50 each, their value on Valuation Day. ... I have considered the defendant's argument that the legal effect of making one election (in whatever form) in respect of the first property disposed of after 1971 would, in any event, oblige the taxpayer to have subsequent dispositions treated in the same way. ...

I should be surprised if the tax implications of a transaction of this magnitude were not considered but I do not see the plan as a tax avoidance scheme. ... It must be considered from the point of view of the taxpayer who would be affected by section 80, not the creditor. ...

It was not economically feasible to work the appellant’s claims by themselves but it was considered practical to work them in a single operation with the claims of Cuisson. ... In computing the deduction claimed, the appellant deducted from the total of $922,825 an amount which it considered to be the value of Cuisson’s assets and, having regard to the existing prospects of the operation yielding profit in the future, claimed the rest as a reserve. ...

Such inaction could be considered to be gross negligence by some but it is not that conduct that needs to be assessed. ... He later invested the money with Canada Trust and never considered the tax implications nor did he discuss the matter with his wife. ...

By this new agreement, the Appellant would be considered not to have received $100,000 from his brother in consideration of his equity in the bar. Rather, under this new agreement, two shares in the corporation would be issued to the Appellant retroactively and, in the transaction of March 8, 1997, the corporation would be considered to have redeemed the two shares from the Appellant in consideration of $100,000 ...

Love's assertion that there was an "understanding" that because the appellant was intended to benefit from the SCI arrangement it was the person who should incur the responsibility of making sure that the obligations of SCI were met who must be considered with care. ... Counsel for the appellant also argues that it is not possible to find that SCL directed the transfer of the funds to SUSHI because of a desire to confer a benefit upon SUSHI, the transfer being effected because quite apart from the question of legal obligation the appellant considered that it was in its best commercial interests to pay these funds. ...

Although this sale occurred May 16, 2007, de facto directorship “must be considered to endure at least as long as [the] person manages or supervises the management of the business and affairs of the corporation in question”: see Bremner v. ... These circumstances must be taken into account, but must be considered against an objective “reasonably prudent person” standard. . . . ...

  [14]         Justice Bowman, as he then was, considered the definition of SR&ED in Northwest Hydraulic Consultants Limited v. ...   [28]         The interaction of the above provisions was considered by the Federal Court of Appeal (“FCA”) in Innovations et Intégrations Brassicoles Inc. v. ...

.- any amount (other than a prescribed amount) received by the taxpayer in the year, in the course of earning income from a business or property, from (i) a person who pays the amount (in this paragraph referred to as “the payor”) in the course of earning income from a business or property or in order to achieve a benefit or advantage for himself or for persons with whom he does not deal at arm’s length, or (ii) a government, municipality or other public authority where the amount can reasonably be considered to have been received (iii) as an inducement, whether as a grant, subsidy, forgivable loan, deduction from tax, allowance or any other form of inducement, or (iv) as a reimbursement, contribution, allowance or as assistance, whether as a grant, subsidy, forgivable loan, deduction from tax, allowance or any other form of assistance, in respect of the cost of property or in respect of an Outlay or expense, to the extent that the amount (v) was not otherwise included in computing the taxpayer’s income, or deducted in computing, for the purposes of this Act, any balance of undeducted outlays, expenses or other amounts, for the year or a preceding taxation year, (vi) except as provided by subsection 127(11.1), does not reduce, for the purposes of this Act, the cost or capital cost of the property or the amount of the outlay or expense, as the case may be, ARTICLE 12: Sommes à inclure comme revenu tiré d’une entreprise ou d’un bien. (1) Sont à inclure dans le calcul du revenu tiré par un contribuable d’une entreprise ou d’un bien, au cours d’une année d’imposition, les sommes appropriées suivantes: x) Paiements incitatifs et autres- un montant (à l’exclusion d’un montant prescrit) reçu par le contribuable dans l’année, en tirant un revenu d’une entreprise ou d’un bien, (1) d’une personne qui paie le montant- appelé “débiteur” au présent alinéa- en tirant un revenu d’une entreprise ou d’un bien ou en vue d’obtenir un avantage pour lui-même ou pour des personnes avec qui il a un lien de dépendance, ou (ii) d’un gouvernement, d’une municipalité ou d’un autre organisme public, s’il est raisonnable de considérer le montant comme reçu: (iii) à titre de paiement incitatif, sous forme de prime, subvention, prêt à remboursement conditionnel, déduction de l’impôt, indemnité ou sous toute autre forme, ou (iv) à titre de remboursement, contribution ou indemnité ou à titre d’aide, sous forme de prime, subvention, prêt à remboursement conditionnel, déduction de l’impôt, indemnité ou sous toute autre forme, à l’égard du coût d’un bien ou à l’égard d’un débours ou d’une dépense, dans la mesure où (v) le montant n’est pas déjà inclus dans le calcul du revenu du contribuable ou déduit dans le calcul, pour l’application de la présente loi, d’un solde de débours, dépenses ou autres montants non déduits, pour l’année ou pour une année d’imposition antérieure, (vi) sous réserve du paragraphe 127 (11.1), il ne réduit pas, pour l’application de la présente loi, le coût ou coût en capital du bien ou le montant du débours ou de la dépense, I cannot help adding that section 12, like most of the provisions of that Act, is not a model of clarity. ... The Minister considered these objections and determined that the amount of $2,794,438 had been paid by these corporations in error. ...