Judgment of the Court
THE CHIEF JUSTIcE :-This is an appeal from a judgment of Cattanach J. pronounced on February 28, 1967, dismissing the appellant's appeal and allowing the respondent's cross-appeal from a decision of the Chairman of the Income Tax Appeal Board and restoring the assessment made by the respondent in respect of the appellant's 1961 taxation year.
The issue for determination is whether $72,031.65 of the total purchase price of $104,664.04 paid by the appellant to acquire the business of Adolph's Taxi Co. Ltd was, as contended by the respondent, for the acquisition of something other than depreciable property or, as contended by the appellant, for either automotive equipment within the 1 [19671 2 Ex. C.R. 32, [1967] C.T.C. 88, 67 D.T.C. 5073.
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