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It was considered as an account payable in accordance with the generally accepted accounting principles. ...

In this context we would refer you to MNR v Pillsbury Holdings, [1964] CTC 294; 64 DTC 5184, where Cattanach, CJ Of the Exchequer Court considered this problem as follows: The Minister could, of course, as an alternative to relying on the facts he found or Although the respondent mentioned sales deducted, this was not for the purpose of taking them into account in making the assessments, but rather to indicate the contrary. ...

Mr Justice Sweet said that there were three aspects to be considered: (1) the situation where there are only two sources of income, one of them being farming; (2) characteristics other than “connection” qualifying farming for inclusion in a combination of farming and some other source of income within the meaning of section 13 of the Act as indicated by Moldowan; (3) whether there need be any “connection” between farming and the other source of income. ...

In these respects particularly, the facts of the instant appeal are distinguishable from those of the cases cited by the respondent in which the businesses carried on by the taxpayer had clearly ceased to be operated or had so been altered in the loss application years that they could not be considered as being the business carried on by the taxpayer during the loss years. ...

There is no evidence to indicate a stable, carefully considered and viable program leading to a profitable and productive farming operation within the financial capability of this appellant to achieve. ...

The fact that he paid expenses for scientific research cannot be considered by itself a business under section 37. ...

Bayker Construction Ltd v MNR, [1974] CTC 2318; 74 DTC 1236. 4.03 Analysis 4.03.1 Crux of the Matter The crux of the matter is whether the sum of $75,000 paid by CIL must be considered as a compensation for the capital spent for the facilities provided in the contract A-1 in order to load four cars at a time and 36 cars in 12 hours. 4.03.2 First, it is clearly admitted by the parties that if CIL had fulfilled the contract A-1 which was a trade contract, it would not have paid compensation. ...

Findings The relevant section to be considered is paragraph 18(1)(a) and (e) of the Act. ...

As a final argument, it is useful to cite the learned Mr Justice Jackett in the case of Hiwako Investments Limited v The Queen supra: With reference to the alternative plea in the Statement of Defence, if it may be considered as an allegation of an “assumption”, I do not think that it can be taken as a plea that the Minister assumed in making the assessments, that a motivating reason for the purchase of the property was an expectation that it would be sold for a profit (in the event that it did not prove to be a satisfactory profit producing property) of such a nature as to stamp a subsequent sale as a trading transaction. ...

They may perhaps be considered separately but the total in this case must not exceed $79,747.30, the amount fixed as liquid assets (par 4.3.3). ...