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The appellant states that he rejected this offer principally on the ground that he considered that Mach must be on the road to brighter horizons if he were interested in buying the stock from the other shareholders, even at this minimal price. ... Two factors that he considered then were the fact that Valuation Day was that month and that the said shares should be registered in the name of his company for future use; and, also, that the financial picture of his company had improved to the extent that it was now possible to proceed in this direction. it was agreed by the parties at the commencement of the hearing that the issue in this appeal was really in two phases. ...

Alternatively, if the appellant is considered by the Board to have been a private corporation in 1967 and 1968, the respondent submits that the amounts claimed as deductible were not “non-capital losses” for any taxation year, and therefore cannot be used in reducing the amount of dividends taxable under Part IV of the present Act. ... In my opinion, for purposes of subsection 186(1) of the new Act, the appellant company should be considered to have been a “private corporation” in 1967 and 1968 within the meaning and intent of subsection 89(1) of the current Income Tax Act. ...

Summary Because of the application of section 67 and subsections 68(1) and 68(4) of the Income Tax Act, RSC 1952, c 148, as amended, the corporation Les Entreprises Poirier Ltée is considered by the respondent to be a personal corporation for 1970 and 1971, and the income of the said corporation is taxable in the hands of its principal shareholder, namely the appellant, Mr Roméo Poirier. 2. ... The evidence does not indicate the exact proportion of the income from these two sources. 3.12 Applying section 67 and subsections 68(1) and 68(4) of the old Act, the respondent considered Les Entreprises Poirier Ltée to be a personal corporation and added the above net income to the personal income of the principal shareholder, Mr Poirier, in a a Notice of Reassessment issued on April 11, 1974. 3.13 On July 5, 1974 Mr Poirier filed an objection with the Minister of National Revenue. 3.14 On December 31, 1974 the Minister gave notice of his reply, now the Notice of Reassessment. 3.15 On March 27, 1975 the appellant filed his Notice of Appeal with the Tax Review Board. 4, Point at issue Do subsections 68(1) and (4) apply in the case at bar? ...

While we must find the fair market value of the appellant’s lease, since the respondent is using page 9 to arrive at $6 which was clearly used on page 11 to arrive at the respondent’s results, the figures and the “Alternative Office Space for Professional and Other Tenants” (as page 9 is captioned) must be considered. ... However, the buildings, the availability of them and the base rent per Square foot are to be considered and, if they are challenged, so is the "$6 per square foot (which) appears reasonable” which was used on page 11. ...

Patterson’s evidence is corroborated by Davie, his solicitor at the time, that he (Davie) considered formation of a company as a means of Hayes getting out of the partnership. ... Patterson considered that with Cowichan Finance Ltd on the covenants as interested in Parkview Manor Ltd there would be no difficulty in borrowing on a second mortgage to replace the existing second mortgage. ...

With that objective in mind Mr Rokosh had looked at several properties over a space of time but never seriously considered purchasing any of those properties. ... Statements now as to the intention at the time of acquisition must be considered along with the objective facts. ...

After having considered the application made by the Director of Special Investigations based on the affidavit of Vernon Robert Milley, I hereby approve of the above authorization, which approval is also indicated on the preceding page by my initials. ... This distinction between “powers” and “duties” was considered in a similar context by the Privy Council in Mungoni v Attorney General of Northern Rhodesia, [1960] AC 336. ...

This is one factor that must be considered. He cites also many other factors that I think must be considered in their proper light in each case. ...

The next day apparently, after he had obtained his own expert advice as to the quantities of steel used, the respondent filed the survey as his exhibit (R-3) which, in my opinion, indicates that the respondent had not built his case on very solid ground and that the taxing authorities had never really considered the merits of the notice of objection filed in July 1971, although they had over one year to do so. ... In my opinion, Murphy was sincere and candid and said or did nothing which reflected on his personal integrity or the reputation of his company and further I find that the records of the company which were certified by the auditor, a qualified chartered accountant who carried out a continuous audit of ABC’s affairs, had to be considered correct in the absence of any evidence to the contrary. ...

He said that his company was considered more of a middle-of-the-road station. ... About this time Mr Jack Kent Cooke, who was the owner of the Station and had sent Mr Daly to the station in the first place, decided to move to the United States and become a US citizen, whereupon the Board of Broadcast Governors insisted that he sell his station, as it was not considered in the best interest of the Canadian communications system to have a non-resident in control of a Canadian radio station. ...