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The landlord considered that it would be more advantageous to eliminate that space by dividing it and adding to the areas occupied by the drug store and travel agency. ... Provision was made for a pro rata determination of profits if the lease were terminated in mid- year and for arbitration of the purchase price if the respondent carried on the business in premises it considered unsuitable. ...

& M. could get other trucks, drivers and yardmen and could continue to operate; (2) It was decided to acquire a 14-acre parcel of land in Trafalgar Township in 1959, and it was considered desirable to have some person other than D. ... The eminent jurist concludes his pronouncement in the undergoing terms: My Lords, I would conclude my judgment by saying only that, where the question of carrying out a genuine commercial transaction, as this was, is considered, the fact that there are two ways of carrying it out—one by paying the maximum amount of tax—the other by paying’ no—or much less, tax—it would be quite wrong as a necessary consequence (emphasis in text) to draw the inference that in adopting the latter course one of the main objects is for the purposes of the section, avoidance of tax. ...

Before dealing with the matter of the apportionment of the selling price of the appellant’s real property between land and buildings, respondent’s submission that the appellant is now barred from adding in 1960 amounts which it had deducted in the years 1956 and 1957 must now be considered. ... Section 20(6) (g) of the Income Tax Act provides that where an amount can reasonably be regarded as being in part consideration for disposition of depreciable property and in part consideration for something else, the part that can reasonably be considered as being the consideration for such disposition shall be deemed to be the proceeds of disposition and the purchaser shall be deemed to have acquired the property at a capital cost to him equal to the same part of that amount. ...

Maibach’s decisions to cause the appellant to purchase the shares it did were based on tips from persons whose information he considered reliable, such as his physician, a relative who was a dentist and a customer’s man for a New York brokerage firm. ... His selection of shares purchased was not based on any thorough analysis of the companies whose shares were purchased but reliance was placed on tips received from persons whom he considered knowledgeable but which subsequent events proved not to be invariably so. ...

In arriving at that sum in settlement, the parties considered (i) the proofs of loss submitted as of May 24, 1962, which amounted to $76,856.11 as of March 31, 1962 (Ex. 1, para. 29); (ii) the estimates of future claims for breach of warranty, and (iii) other considerations, including uncertainty as to the outcome of litigation: (Ex. 1, para. 32). ... In arriving at the settlement of $90,000 with the insurer, the appellant considered not only the amount of the proofs of loss and the estimate as to the possible future claims, but also ‘ other considerations including uncertainty as to outcome of litigation” (Ex. 1, para. 32). ...

The respondent submits the Commission also reasonably considered the adverse impact of the delay on CRA, noting that some of the rationales for the time limitation of paragraph 41(1)(e) relate to safeguarding the ability to gather credible evidence, providing fairness for defendants, and ensuring that plaintiffs exercise due diligence. ... Tyler’s work performance assessment that were considered in the CRA investigation. [36] The respondent submits the Commission’s reasons were adequate and complete. ...

While this circumstance, if taken by itself, would not likely be conclusive, it is, in my view, a factor to be considered. 20 In the case of Western Leaseholds v Minister of National Revenue, [1959] C.T.C. 531, 59 D.T.C. 1316, Mr Justice Locke said at 542 [1322]: In Anderson Logging Company v The King, [1925] S.C.R. 56; [1917–27] CTC 207, Duff J, as he then was, said that if the transaction in question belongs to a class of profit-making operations contemplated by the Memorandum of Association, prima facie at all events the profit derived from it is a profit derived from the business of the company. ... Thus October of 1967 was probably the first really opportune time, from the point of view of the plaintiff, at which Sussex House could be sold. 22 Another factor which, in my view, has to be considered, is the fact that the sale of Sussex House did not occur as the result of an unsolicited offer. ...

This the Minister did not seek to tax in the plaintiff's 1971 taxation year having considered the gain to have been realized on the sale of a capital asset, the plaintiff having considered it expedient to sell. 28 In assessing the plaintiff as he did by disallowing the deductions listed above and claimed by the plaintiff as such the Minister did so on the following assumptions: (1) the expenditures were not made or incurred for the purpose of gaining or producing income; (2) the expenditures were expended or incurred on account of capital; and (3) the expenditures were personal or living expenses. 29 The onus of demolishing these assumptions falls on the plaintiff. 30 The contentions on behalf of the Minister may be summarized as follows: 31 1. ...

With respect I believe this correctly brings the focus back to the express provisions of subsection 15(1) of the Income Tax Act. 15 Most of the jurisprudence considered by the Tax Court judge predated the Federal Court of Appeal decision in Youngman which was issued in April, 1990. ... If it were, thousands of private homes could be considered business premises. ...

Subsection 248(1) defines business as follows: “ business ” includes a profession, calling, trade, manufacture or undertaking of any kind whatever and, except for the purposes of paragraph 18(2)(c), section 54.2 and paragraph 110.6(14)(f), an adventure or concern in the nature of trade but does not include an office or employment; 15 The expression “adventure in the nature of trade” was considered by Thorson P. of the Exchequer Court in Minister of National Revenue v. ... </p>] It is equally well established that even a single operation entered into for gain takes a business character when it cannot properly be considered as an investment but it is to be characterized as a speculation. ...