Rajchgot v. The Queen, 2004 DTC 3090, 2004 TCC 548, aff'd 2005 DTC 5607, 2005 FCA 289 -- summary under Capital Loss v. Loss

The taxpayer, who acquired shares of Tee-Com in 1995, 1996 and 1997 and disposed of the shares at a substantial loss in 1997, was found to have realized such losses on capital account. The frequency of his transactions was not high (approximately 11 purchases during the period), the length of his holdings did not show an intention for a "quick flip", he did not have any special connection with Tee-Com, and it was not unusual for an investor to spend significant time research and monitoring his investment. Furthermore, losses realized in 1995 and 1996 were reported on capital account, and there was no evidence to justify a change to income-account treatment in 1997.