Independent Gaz Service Inc. v. The Queen, 88 DTC 6230, [1988] 1 CTC 309 (FCTD) -- summary under Real Estate

The group sale by the taxpayer of service stations pursuant to an unsolicited offer resulted in a capital gain. The controlling shareholder had intended to build up a chain of service stations and operate it at a profit. After noting (at p. 6231) that "a fundamental principle of taxation is that the disposition of a business results in a capital gain, a fortiori for a business which requires care and labour to operate." Dube J found that the shareholder had the taxpayer sell because of the offer of an attractive price, his weariness and wish to retire, and the imminent adoption of capital gains tax.