Plaza Pontiac Buick Ltd. v. The Queen, 94 DTC 6058, [1994] 1 CTC 27 (FCA) -- summary under Paragraph 20(1)(gg)

An inventory allowance was not available to a car dealership in respect of leased automobiles notwithstanding the option of the taxpayer (but not its customers) to consider the leased car sold upon the expiry of the leased term. In order to be "held for sale", the automobiles had to be held for sale throughout the leased term. In addition, the words "converged into" in their context denoted a physical change in form rather than a change in function.