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The stipulation in the contract relied upon by counsel for the Minister of Finance as to retention of title and property in the inventoried goods by the Firestone Company, obligation on the Distributor to insure them in the Firestone Company’s name and compulsion to sell them at a price fixed by the Firestone Company were all present in the contract considered in the case of John Deere Plow Co. v. ... Paragraph 6 of the contract must be considered in conhection with para. 2 of the Schedule. ...

That part of the salary which is inconsistent with the services rendered, when paid or payable to a person who is an officer or employee of the company or corporation and at the same time a shareholder thereof, and such inconsistency shall be measured by the differences in salary which would be considered reasonable if it was paid to another person not a shareholder but doing a similar work and having the ability and experience of the shareholder, 3. ... It must not be considered as an acknowledgement or admission that the decision of the Commissioner of Income Tax in the matter was well founded, for this payment is solely made for the purpose of effecting a compromise. ...

Counsel for the appellant suggests that while this might have been a business operation authorized by the charter of the company, and carried out by it in the taxation year 1940, yet that inasmuch as it resulted in no income, much less profit, that therefore it should be considered as not a business operation, as required by subsec. (4). ... But in the main in considering the first part of the section, I paid particular attention to the drilling of an oil well in 1940 which I think unquestionably must be considered as a business operation carried on in a place other than outside of Canada. ...

But, as in the instant case, when the deduction for business losses sustained in the last preceding year is to be considered under section 5(p), the respondent submits that, in ascertaining the amount of losses so to be deducted, the amount of such dividends must be taken into account as part of the income of the appellant in the last preceding year. ... I have considered that judgment and in my view it is not helpful in the case at bar. ...

The respondent, however, considered that under all the circumstances of the case the asset to be valued was not an interest in realty, but, in fact, a bequest of the sum of $10,000 annually, terminable only upon the death of the last survivor of the four- named persons. ... I am of the opinion, therefore, that when the annual income was so fixed and determined and so well secured by the lease and additional securities, that it should be considered as a gift of that sum of money, payable annually and terminable only upon the death of the last survivor of the five-named persons. ...

Of course, the appellant cannot be considered as exercising a “profession” within the meaning of that word in the usual language, but he relies on the use of the word “profession” in section 7(b) of the Act, and he claims to be entitled to the exemption therein provided. ... Of course, in order to claim the exemption, the appellant had first to show that his profits depended entirely, or at least mainly, upon his personal qualifications, but the proviso in the section must also be considered. ...

In the taxation year 1945 the appellant received $824.35 from this annuity and, while he disclosed the receipt of that sum in a schedule attached to his income tax return, he considered it to be exempt from tax and therefore did not include it in his taxable income. ... While this definition is for the purpose of distinguishing ‘‘earned income’’ and "investment income’’ under the provisions relating to surtax on investment income, it does indicate in a general way that pensions and retiring allowances are to be considered as a form of income unless, of course, they be exempted under specific provisions of the Act. ...

He ought to have considered the possible rise or fall of prices. We now know what would have been the true sum, and the proposition baldly stated seems to be that, because you could not arrive at the true sum when the notice was given, you should shut your eyes to the true sum now you do know it, because you could not have guessed it then. ... Applying this reasoning to the present case, I think that when the matter came before the Minister, and it was then quite clear that the company would have no stock to depreciate in 1948, it was not his duty to ignore this, and speculate how the probabilities of depreciation would have appeared to him if he had considered the matter earlier. ...

That she had accumulated very substantial savings over the years does not admit of doubt, and had she invested same from time to time in properties with the sole purpose of securing an income such as rents, I do not think she should be considered as a trader or in business. ... ‘What is the line which separates the two classes of cases'may be difficult to define, and each case must be considered according to its facts; the question to be determined being—Is the sum of gain that has been made a mere enhancement of value ‘by realising a security, or is it a gain made in an operation of business in carrying out a scheme for profit-making? ...

As there is no rule of the Court, or provision in the Act covering this precise point, it was argued that the practice in England is to be followed (see Section 36 of the Exchequer Court Act, R.S.C. 1927, c. 34, as amended by Statutes of Canada, 1928, c. 23, s. 4), which provides that where service is made by registered post, the time at which the document so posted would be delivered in the ordinary course of post shall be considered as the time of service. ... Although in view of my finding above it is not necessary to decide this latter point, nevertheless when it is considered that the taxpayer did have an interest in several race horses; had the benefit of inside information from jockies and other interested persons on the probable outcome of races, which he admits he had due to the fact that he was running some horses which he owned or had an interest in; and the further fact that for ten years or more he systematically attended all the races in sometimes four different cities and bet on most of the events, one is almost driven to the conclusion that this set of facts constitutes a business or calling within the meaning of the tax Acts, and the monies made thereby would therefore be taxable. ...