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Why should monies put indirectly into the “project” not be considered part of that adventure, given that had they been put in directly they would be considered part of the adventure; or put another way, why should the introduction of an intermediary affect the nature of the monies from being on income account to being on capital account? ... As stated in Freud:   It is, of course, obvious that a loan made by a person who is not in the business of lending money is ordinarily to be considered as an investment. It is only under quite exceptional or unusual circumstances that such an operation should be considered as a speculation ...

Canada (Treasury Board), (1999) 168 F.T.R. 273 at paragraph 5: There is considerable jurisprudence to the effect that only the evidence that was before the initial decision-maker should be considered by the Court on judicial review (Franz v. ... Kassam’s finding of fact that the Assessment was mailed, it is necessary to clearly understand the evidence he considered in reaching the Decision ... Kassam re-states his position that the Assessment was mailed on November 7, 2008, and also states the very relevant information about the evidence he considered in reaching his Decision: 10. ...

I do not know over what period the plaintiff’s courtship of his wife extended but there is no question that they considered and made sensible plans for their future life together. ... I have always considered the concept of a “sole partner”, although common parlance among commercial men, as both inept and misleading. ... This circumstance therefore is not conclusive one way or the other but is merely one of many instances of conduct of the parties which may be considered as part of the whole of the evidence as to whether partnership exists. ...

While William M Lawson could not be described as a speculator or dealer in real estate in 1968 nor for that matter at the time of the sale in 1973, being at the time of the purchase a graduate student and now a professor, neither can he be considered as having no knowledge in the field. ... A professed intention cannot be considered as determining what it is that the concrete acts amount to. ... Statements made as to what the respondents’ intention was at the time of acquisition of the land must be considered along with all the objective facts. ...

/M.N.R. for Customs and Excise, [1985] 1 C.T.C. 23; 85 D.T.C. 5024 (F.C.A.)) indicates that the scheme and object of the entire statute are to be considered in construing the provision of the Income Tax Act. ... Therefore, if a person does not place himself within the meaning of subsections 2(1) or 2(3) of Division A of the I.T.A., he is not to be considered subject to tax assessment for that taxation year and, as a result, since the Minister cannot tax, it follows that one is not able to claim a deduction in respect of a non-capital loss as provided in paragraph 111 (1)(a) of the I.T.A. ... In such situations the individual’s taxable income will be ascertained by determining his world income (loss), from all sources, for the period during which the taxpayer was resident in Canada; the period of residency being considered the taxpayer's taxation year for the purpose of computing his income. ...

They considered divorce. As Mr. Passarello put it, his world was collapsing. [11]     Mr. ... And I do believe the Passarellos testimony, but I also find it is necessary to look at the surrounding circumstances and to those who actually devised the arrangement, especially, as here, where the evidence is that the Passarellos relied entirely on their professional advisor for tax planning advice. [22]     Respondent's counsel gleaned from the many cases dealing with this issue a number of circumstances that I should consider in ascertaining whether it "may reasonably be considered that one of the main reasons" is the reduction of tax. ... However, in that case there was some testimony to the effect that tax had been expressly considered, giving rise to the possibility that tax reduction was a main purpose. ...

When clause 4 is considered in the context of the whole of the 1964 sale agreement, what one finds is that, by an agreement executed on June 10, 1964, the company agreed to sell specified shares to the individual for a specified amount, which was obviously below their value, which sale was to be completed on the same day but subject to an agreement between the parties (clause 4) that “in the event” that the Minister of National Revenue should “at any time hereafter” make a final determination that the value of the shares as of the date of the agreement is less than or greater than the price stipulated in the agreement, such prices are to be adjusted retroactively to conform to the value as so determined. ... If the question of the quantum of the benefit had been raised, such arguments would have had to be considered. ... Fair value was not considered at the time the agreement was negotiated by the parties. ...

The Minister considered these amounts to be additions to reserve in each of the taxation years (and the deduction of fines to be contrary to public policy) and disallowed the deductions. ... In MNR v E H Pooler and Company Limited, [1962] CTC 527 at 532; 62 DTC 1321 at 1324, Thurlow, J (as he then was) of the Exchequer Court of Canada dealt with the allowance of a $2,000 fine imposed by the Toronto Stock Exchange on the respondent company for the conduct on the part of one of its vice-presidents which was considered detrimental to the interests of the Exchange. ... Fournier, J had this to say before he quoted Lord Haldane at page 163 [1097-8]: That being the case, it becomes necessary to determine if unlawful acts committed in earning income from the operations of a business or trade are to be considered in computing the income of a taxpayer. ...

The Queen, [1982] C.T.C. 214; 82 D.T.C. 6179. 4.03 Analysis 4.03.1 The respondent's position is based primarily on the view that, on issues of corporate control, it is de jure control that must be considered rather than de facto control. ... The technical notes published by the Minister on September 13, 1988, with respect to this amendment read as follows: New paragraph (1.2)(b) provides that a corporation can be considered to be controlled by a person or particular group of persons notwithstanding that the corporation is also controlled by another person or group of persons. As a consequence, under this paragraph, a corporation can be considered to be controlled at the same time by several persons or group of persons. ...

Ramsay suggests that more was required. 25 In summary, the cases relied on by the Minister, beginning with Ramsay, can no longer be considered good law. ... Correlatively, whether or not an otherwise deductible expense is reasonable in the circumstances is not to be assessed by reference to whether any one expense, or the collective expenses, are considered to be disproportionate to revenues. In this regard, the decisions in Ramsay and Elliot, supra, can no longer be considered good law and the same fate befalls those decisions of the Tax Court which are inconsistent with my conclusions. 33 In my respectful view, the Tax Court Judge erred in upholding the Minister's refusal to allow the deduction of interest paid on the $25,000 personal loan. ...