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Thomson stated he never considered a trust agreement, letter of credit or other mechanism to ensure ability to pay the Part VIII tax liability but reiterated he felt the stock market investments, especially in Butler Mountain, would raise enough money to pay the tax bill. ... The liability of directors under Part VIII should be considered in a different light than the strict application of the due diligence required to ensure that source deductions of employees are remitted. ... M.N.R., [1992] 1 C.T.C. 2124, 92 D.T.C. 1066, The Honourable Judge Bonner of the Tax Court of Canada, considered the taxpayer's due diligence defence as a director of a corporation known as Atlantis and at pages 2126-27 (D.T.C. 1068) of his judgment stated: With regard to the failure of Atlantis to make the payment due under subsection 195(2) of the Act on or before the last day of December, 1984, the appellant testified that his understanding was that Part VIII tax was payable at or after the company’s year end and that if qualifying research was underway when the tax would otherwise have been due under subsection 195(2), the expenditures on such research would ultimately reduce the Part VIII tax liability. ...

Dubuc is support of the respondent’s position must first be considered. ... If it can be considered material, Mr. Barbeau’s testimony tends to show in particular that the T4s issued by Dunn & Benoît could have been substantially incorrect. If this evidence is considered on balance, it appears undeniable that certain employees did not receive brown envelopes and consequently part of their remuneration in cash. ...

He said there were 34 lots in the first stage or what he considered to be the first stage in the Castle Down area. ... They are significant, there is no question about that, and they do raise some questions with respect to credibility and they will have to be considered. ... Tessier, nothing more than a holding company in 1980 and 1981, and there is no provision in the Act to allow expenses in former years to be considered under section 67 and the expenses were not reasonable. ...

Further, he considered receivership. He said he was persuaded by Messrs. ... Subsequently, various arrangements were considered and payments made but some arrangements were not kept. ... After considering all the evidence, considering the credibility of the witnesses as I am entitled to do, having drawn all reasonable inferences from the evidence that I am able to do, and having made due allowance for the fallibility of memory, having due regard to the exhibit written resignation and the viva voce evidence of the appellant himself on the stand, and after rigorous cross- examination, having considered the argument of counsel of the respondent on the question of the correct date of resignation, I am satisfied on the balance of probabilities that the appellant resigned as a director on August 5, 1987 in accordance with section 108(2) of the Canada Business Corporations Act, and he is not responsible for any deductions after that date. ...

EMC had its own comparable software product, IT Performance Reporter (ITPR), but APG was considered a more desirable product. [7] Prior to these transactions, all of the shares of W4N were controlled equally by Messrs. ... This is so even if the Balance Note issues are not considered. [3] Did such distribution or appropriation occur “on the winding-up, discontinuance or reorganization of” W4N’s business? ... The Queen, 2014 TCC 75 Justice Hogan of this Court considered, and based his reasoning on the very same case law, but found as a fact that the business activities of the company in question continued as usual and its format remained the same for almost two years after the alleged distribution (paragraphs 32–34). [71] Regard may also be had to the 2003 Canadian Tax Foundation article “Public Company Non-Butterfly Spinouts” by Messrs. ...

Justice Dickson (as he then was) at page 334 (D.L.R. 351-52): In short, I agree with the respondent that the legislation’s purpose is the initial test of constitutional validity and its effects are to be considered when the law under review has passed or, at least, has purportedly passed the purpose test. ... As discussed previously, a law which prohibits certain practices which are an essential part of one’s religion must be considered an abridgement or infringement of freedom of religion. ... Those practices, which are prohibited by the dictates of the conscience or religion, “must be considered an abridgement of the freedom to conscience and religion, even though the impact occurs indirectly"" (T.S., p. 82). ...

In allowing the appeal, MacLean, P. disposed of paragraph 3(e) in these words at 134-35 (D.T.C. 458-59): It seems quite clear that s. 3(e) of the Act contemplates a situation where the taxpayer, for services rendered, receives as salary or remuneration (1) money, and (2) something in addition to the money by way of either (a) a living allowance in money, or (b) the free use of premises for living purposes, or (c) some other allowance or perquisite, all or any of which may as a matter of sense and right be considered as part of the gain, salary or remuneration of the taxpayer. ... His Lordship said that whether extinguishing the interest debt was the conferring of a benefit on the respondent under paragraph 8(1)(c) must be considered as a question of fact. ... In Malkin No. 2 the Court considered amended paragraph 3(1)(e) and subparagraph 2(1)(r)(i) and both included that word. ...

Granliénard at the time of the audit, he considered it is much too late now to suggest that the services rendered did not have a value equal to the bonuses. ... On the validity of the resolutions, counsel for the respondent considered that the fact that a par value had been indicated was only a clerical error which was of no consequence, since it was clear that the sole director intended to issue the preferred shares in the company’s capital stock in payment of bonuses. ... Counsel went further, noting that no share certificates were ever given to the appellants and, if despite this it is considered that they have received shares, the latter were worthless in view of the bankruptcy both of Hellas and of 125190. ...

He considered the annual rental, costs of insurance, interest and upkeep. ... These expenses were not claimed in the Appellant’s 1990 income tax return or by any other entity because he considered it to be his principal residence and it did not matter. ... The Appellant considered legal action but it was obvious that this would have proven fruitless. ...

Since the value of the bullion assets was more than offset by the bullion liabilities, there was no value of bullion assets that could be considered to be a cost to the Appellant's business. ... The Appellant contends that Parliament expressly acknowledged that currency is tangible property by amending the provisions of paragraph 20(1)(gg) to add the words “(other than real property or an interest therein and currency that is held for other than its numismatic value)”.Furthermore, ther is nothing on the face of the provision as amended, to indicate that it was intended to have retroactive effect. 31 Money is also considered to be a tangible item for the purpose of the law of sale of goods.Money is also included among items that are generally considered to be tangible assets from an accounting perspective.The “tangibility” of currency is particularly evident in the case of foreign currency which, the Appellant says, is dealt with as a commodity with an intrinsic worth which can be measured in terms of the indigenous currency with which it is bought. ...