A-840-95

OTTAWA, ONTARIO, THIS 17th DAY OF JUNE 1997.

CORAM:      THE HONOURABLE MR. JUSTICE DENAULT

THE HONOURABLE MADAME JUSTICE DESJARDINS

THE HONOURABLE MR. JUSTICE DÉCARY

BETWEEN:

     CAMILLE VILLENEUVE

     Appelant

     - et -

     SA MAJESTÉ LA REINE

     Intimée

     REASONS FOR JUDGMENT

DENAULT J.A.:

     The Appellant claims the Tax Court judge erred in concluding that the gain realized from the disposition of a property known as Les Terrasses Chavoin, in the taxation years 1989 and 1990, was income in nature and not capital.

     We have not been persuaded that the Tax Court judge made any palpable or overriding error that would warrant our intervention.

     While he may be faulted for having given very laconic reasons, we are of the view that there was ample evidence before him enabling him to find that the intention of the taxpayer was mainly "to make a quick profit" and to conclude that the sale of the property at issue was "an income adventure" not leading to a capital gain.

     The appeal will be dismissed with costs.

Pierre Denault

J.C.A.