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He considered the land excellent in that it was “a nice piece of land” with good people “in a nice area”. ... The appellant’s declared intention of purchasing the properties as an investment in rental properties must, of course, be considered by the Board. ... In Grossman (supra) at 2145 and 152 respectively, it is stated: Therefore, at the risk of certain selective perception, one may elucidate as follows from the above summary of cases (particularly that of Hiwako, [1978] CTC 378; 78 DTC 6281): (1) where there was “an expectation on the part of the purchaser, at the time of purchase, that... it could be sold at a profit and that such expectation... induced him to make the purchase”; or (2) “If property is acquired when there is no business... ”; or (3) “one possibility in the mind of the purchaser is to use the property as the Capital asset of a proposed business”; or (4)... the purchaser has not considered how he will use it (the property)” (italics mine). ...

They told him he could not be considered as a self-employed person. The appellant had no vouchers to confirm the other expenses because he thought they were not in dispute. ... The following criteria should be considered: the profit and loss experience in past years, the taxpayer’s training, the taxpayer’s intended course of action, the Capability of the venture as capitalized to show a profit after charging capital cost allowance. ... Moreover, in 1979 the appellant considered himself only as an apprentice. ...

In The King v Fraser Companies ((2) [1931] S.C.R. 490) four judges of this Court, (Newcombe, Rinfret, Lamont and Smith, JJ) expressed the view touching the application of section 87(d) to the facts of that case which, I think, applies here, in the judgment of those learned judges delivered by Smith, J, it is said (p 493) Then after citing a portion of the passage cited above the Chief Justice continued: This passage in the reasons of my brother Smith was not part of the ratio decidendi but it was the considered opinion of the four judges who constituted the majority of the Court. ... I have fully considered the able argument addressed to us by Mr Forsyth and my conclusion is that, when sections 86 and 87 are read together, this transaction falls within the category of cases described by section 87(d) and that the view expressed by my brother Smith in Fraser’s case (1) ([1931] S.C.R. 490) is the view which ought to govern us in the disposition of this appeal. ... With respect, I do not believe that those authorities are apposite in this case because it appears clear from my reading of them that the point raised in Question One was not one which was raised or considered therein. ...

This argument of course was not advanced by the plaintiff Fortuna as its accounting was on an accrual basis. (2) Both plaintiffs also argued that, in any event, the tax certificates, for the reasons mentioned in the preceding paragraph, should be discounted with reference to their value for taxation purposes as opposed to being considered at their face value for the taxation year. ... It is to be noted also that what is represented by the certificates is considered contribution by way of loan to the Association. ... That the amounts in suit could not be considered part of the respondent’s taxable “income” within the meaning of that term as defined by the relevant income tax acts. ...

He was concerned about the erosion of the Canadian dollar, considered land as safer, and acquired the property for long-term investment and capital gain. ... In my opinion there must be other factors and circumstances proven before the profit realized can be considered to be a taxable profit. ... In this respect, I would make reference to some of the Board’s comments in Sam Grossman v MNR, [1979] CTC 2132; 79 DTC 141, in which the leading cases on this point are reviewed and summarized at pp 2145 and 152 respectively: Therefore, at the risk of certain selective perception, one may elucidate as follows from the above summary of cases (particularly that of Hiwako (supra)): (1) where there was “an expectation on the part of the purchaser, at the time of purchase, that... it could be sold at a profit and that such expectation... in duced him to make the purchase.. or (2) “If property is acquired when there is no business.. or (3) “one possibility in the mind of the purchaser is to use the property as the capital asset of a proposed business”; or (4).. the purchaser has not considered how he will use it (the property)” (italics mine). ...

It is not necessary to repeat them here in depth. [6] The procedural fairness issue with respect to the film distribution expenses will be considered first. ... He raised this after the evidence had closed and heard oral and written submissions on the point. [12] The Court ultimately determined that it could consider the issue and provided extensive reasons for its conclusion at paragraphs 89 to 120. [13] In this Court, the appellants submit that the Court wrongly concluded that this issue could be considered. ... The Tax Court considered nine parcels of land. Only four have been appealed. [24] The issue is only relevant for the appeal of Paletta International Corporation. ...

A few passages from Judge Page’s reasons ought to be considered. They are: …] find as a fact that the accused Bruce Relkie was the “directing mind” of the company respecting the filing of refund applications, in accordance with the identification theory of liability set out by the Supreme court of Canada in Canadian Dredge and Dock Company Ltd. v. ... In the event that I have erred in this interpretation of the Excise Tax Act, having carefully considered the whole of the evidence with respect to each accused and on each count, I am not satisfied that it has been proved beyond a reasonable doubt that any of the accused intentionally made false or deceptive statements or wilfully attempted to evade or defeat federal sales tax as alleged. ... Justice Urie also considered whether the same conclusion could be drawn from an acquittal. ...

As such, this venture was considered viable and had a reasonable expectation of profit. ... For the annual interest expense to be considered “reasonable in the circumstances”, surely it alone should not generally exceed the gross annual income. ... I conclude that, in the present circumstances, interest should not exceed the gross rental income in order to be considered a reasonable expense. ...

At first, it granted a deduction for a portion of the interest income considered to be part of the non-taxable operations of the Club in accordance with its past administrative policy. ... Alternatively, should I find that no separate business existed, counsel for Point Grey argued that the investment income should be considered as incidental to the club activities and not taxable as such. ... In Elm Ridge, I decided that the interest income could not be considered as an integral part of Elm Ridge’s “other business activities” because Elm Ridge did not carry on any business. ...

Subsection 15(1.1) of the Act states: 15(1.1) Notwithstanding subsection (1), where in a taxation year a corporation has paid a stock dividend to a person and it may reasonably be considered that one of the purposes of that payment was to significantly alter the value of the interest of any specified shareholder of the corporation, the fair market value of the stock dividend shall, except to the extent that it is otherwise included in computing that person’s income under paragraph 82(1)(a), be included in computing the income of that person for the year. ... Where in a taxation year a corporation has paid a stock dividend to a person and it may reasonably be considered that one of the purposes of that payment was to significantly alter the value of the interest of any specified shareholder of the corporation... ... The most obvious difference between subsections 15(1.1) and 55(2) is the inclusion in subsection 15(1.1) of the words “and it may reasonably be considered that one of the purposes...”. ...