correctness of the decision in Rex v. Court. It is sufficient to say there is nothing in this case to show that the grand WA'fRBjury did not have before it sufficient evidence to justify it wears bringing in a true bill. On the other points we are all of THE KING opinion that while there were errors in the trial judge's charge to the jury, those errors were immediately corrected upon them being called to the judge's attention by Counsel for the appellant. In the circumstances, it cannot be said that the trial judge did not put before the jury the defence raised on behalf of the appellant.
The appeal is, therefore, dismissed.
Appeal dismissed. JAMES E. WILDER ....................
APPELLANT; *May AND
Dec.3. THE MINISTER
OF NATIONAL
RESPONDENT. REVENUE ................
ON APPEAL FROM THE EXCHEQUER OF The appellant sold his real estate business together with all its assets, the purchaser assuming all the liabilities of the vendor.
One of the considerations for the sale was that the purchaser would pay the vendor an annuity during his lifetime of $1,000 per month.
The appellant was assessed for income tax for the years 1941, .1942 and 1943 on the full amount of the monthly payments of $1,000 each, on the ground that that amount was income within the meaning of s. 3(1) (b) of the Income War Tax Act, which provided that "'income' means the annual net profit or gain or gratuity . .
. and also the annual profit or gain from any other source including . .
. annuities or other annual payments received under the provisions of any contract except as in this Act otherwise provided; . . ."
These assessments, on appeal, were maintained by the Minister of -National Revenue and by the Exchequer Court of Canada. Held, reversing the judgment appealed from (Rand and Kellock JJ. dissenting), that the monthly payments were not taxable income within the meaning of s. 3(1)
(b) of the Income War Tax Act, R.S.C. 1927, c. and amendments, as they were not an income receipt but instalments due on the purchase price of certain assets. The appellant had bought no annuity subject to income tax. Rinfret C.J. and Taschereau, Rand, Kellock and Fauteux JJ.
Lois et règlements cités
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Citations non résolues
- s. 3(1)