Gregory Silas

The appellant appealed assessments for the 2002 to 2009 taxation years involving shareholder benefits, unreported income, and gross negligence penalties.

The Tax Court dismissed the appeals for 2002 and 2009, quashed the appeal for 2007, and allowed the appeals for 2003, 2004, 2005, 2006, and 2008, referring them back for reassessment.

The Court adjusted the shareholder loan account balance, reduced the unreported income and shareholder benefit amounts for 2006, and quashed the gross negligence penalties for 2006.