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''Daishowa-Marubeni International Ltd v Canada'' is a significant case of the Supreme Court of Canada concerning the application of Canadian income tax law, as well as the purposive interpretation of statutes. ==Background== Daishowa‑Marubeni International Ltd., a company owned by Daishowa Paper Manufacturing and Marubeni Corporation, operated pulp mills in Peace River, Alberta and in Quesnel, British Columbia. Through separate subsidiaries in High Level, Alberta ("High Level") and Red Earth Creek, Alberta ("Brewster"), it carried on the business of harvesting logs and manufacturing finished timber. At the beginning of 1999, the subsidiaries were amalgamated into the parent company. High Level was sold later in 1999 to Tolko Industries Ltd., and Brewster in 2000 to Seehta Forest Products. Both transactions included the sale of timber licences, each of which is considered to be a “timber resource property” under the ''Income Tax Act'' (Canada). Under Alberta law, consent was granted for the transfer of such licences subject to the condition that the purchaser assume all obligations relating to the reforestation of the land covered by the licence. In filing its 1999 and 2000 tax returns Daishowa did not include the amounts relating to the assumption of such liabilities as part of the proceeds of disposition relating to the sale of such properties. The Minister of National Revenue asserted that it should have been part of such amount, relying on the definition set out in the Act at s. 248(1): The Minister accordingly reassessed, adding into the proceeds of disposition $11,000,000 in respect of High Level and $2,966,301 in respect of Brewster, based on the estimated cost in DMI’s accounting records, and accordingly adjusted Daishowa's taxable income for the years in question. Daishowa appealed the reassessment to the Tax Court of Canada, contending that the fair market value of those liabilities was not determinable at the time of closing and thus should not be included. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Daishowa-Marubeni International Ltd v Canada」の詳細全文を読む スポンサード リンク
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