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However, as a policy matter, it is considered to be a misuse of the provisions of the Act to allocate the entire pool exclusively to the oil and gas properties. ... The series of transactions effected by Canco would be considered to have been undertaken to obtain the identified tax benefit.  ...

.], the court considered whether expenditures made by the taxpayer were on account of capital or a current expenditure.  ... In the case, the sale of inventory was considered to be indivisible from the sale of other items such as machinery and equipment, accounts receivable, goodwill, etc.  ...

The wording in the preamble to subsection 164(1) is almost identical to the words in subsection 129(1) that were considered in Bonnybrook. ... The ConocoPhillips case considered whether subsection 220(2.1) could be utilized to allow a taxpayer to waive the requirement to file a notice of objection. ... These additional reassessing provisions do not appear to apply to general operating expenses, and are considered to be irrelevant for the purpose of this analysis. ...

Royalties, which are akin to rental payments, have invariably been considered as income since they are either based on the degree of use of the right or on the duration of the use, while a lump sum payment for the absolute transfer of a right, without regard to the use to be made of it, is of its nature considered a capital payment, although it may of course be taxable as income in the hands of the recipient if it is part of that taxpayer's regular business. ...

Royalties, which are akin to rental payments, have invariably been considered as income since they are either based on the degree of use of the right or on the duration of the use, while a lump sum payment for the absolute transfer of a right, without regard to the use to be made of it, is of its nature considered a capital payment, although it may of course be taxable as income in the hands of the recipient if it is part of that taxpayer's regular business. » (Notre soulignement) 18. ...

(endnote 10) The Court adds USAs' to the legal sources that have to be considered: "it would defy logic to treat de jure control as remaining unaltered by an agreement which, by the very statute which governs the incorporation of the company and the governance thereof by its articles and by-laws, is given the same power as the articles to supersede the statutory provisions for corporate control" (endnote 11). ... In its reasons, the Court only considered the components of the agreement interfering with the exercise of the directors' managerial powers, which could otherwise be included in the articles of incorporation of the corporation, in assessing de jure control of the appellant (endnote 13). ...

The consistency principle, simply stated, refers to the requirement to use the same accounting principles from one period to another. 3 A change in an accounting principle to a more preferred method results in inconsistency, however, such a change is acceptable provided the effect of the change is disclosed and, where applicable, prior period adjustments are made. 3 The application of the consistency principle in valuing inventory for tax purposes was considered in The Queen v. ...

If the paying affiliate (CCo in this case) does not have sufficient exempt surplus or taxable surplus, the dividend will be considered to be paid from CCo's pre-acquisition surplus. ...

In arriving at this conclusion in the context of the facts submitted, we considered the application of paragraph 5901(2)(b) and subsections 5901(2.1) and (2.2) of the Regulations, taking into account the coming-into-force and transitional rules set out in subsection 79(2) of Bill C-48. ...

For the purpose of paragraph 94(3)(g), we are on the opinion that the amount of deemed dividend is considered to be included in the total income of the Estate pursuant to paragraph 12(1)(j) and 82(1)(e). ...