autobus thomas inc. v. canada, [2001] 3 S.C.R. 5, 2001 SCC 64

Autobus Thomas Inc. Appellant

v.

Her Majesty The Queen Respondent

Indexed as: Autobus Thomas Inc. v. Canada

Neutral citation: 2001 SCC 64.

File No.: 27804.

2001: October 11.

Present: Gonthier, Iacobucci, Major, Bastarache, Binnie, Arbour and LeBel JJ.

on appeal from the federal court of appeal

Income tax – Tax on large corporation – Capital – Corporate taxpayer obtaining financing from bank to acquire new buses – Minister of National Revenue reassessing indebtedness as part of taxpayer’s capital under s. 181.2(3) of Income Tax Act – Minister’s reassessments upheld.

APPEAL from a judgment of the Federal Court of Appeal (2000), 254 N.R. 316, 2000 D.T.C. 6299, [2000] F.C.J. No. 231 (QL), dismissing the taxpayer’s appeal from a decision of the Tax Court of Canada, 1998 CanLII 482 (TCC), 99 D.T.C. 259, [1999] 2 C.T.C. 2001, upholding the Minister of National Revenue’s reassessments of the taxpayer. Appeal dismissed.

Daniel Bourgeois and Virginie April, for the appellant.

Pierre Cossette and Marie-Andrée Legault, for the respondent.

English version of the judgment of the Court delivered orally by

[1] Gonthier J. – Since we are essentially in agreement with the reasons of Marceau J.A. and, in particular, his analysis of the relations between the parties, we would all dismiss the appeal with costs.

Judgment accordingly.

Solicitors for the appellant: Pothier Delisle, Sainte-Foy.

Solicitor for the respondent: Justice Canada, Montréal.