Fraser v. Minister of National Revenue, 64 DTC 5224, [1964] CTC 372, [1964] S.C.R. 657 -- summary under Shares

After being approached by Dominion Stores respecting the acquisition of a store the taxpayer, together with another individual who also was an experienced operator in the field of real estate, bought vacant land in 1952 with a view to building thereon a shopping centre (for Dominions) and an apartment building (which would provide customers for the store), incorporated two companies to hold the land in two parcels, and then sold the shares less than two years later. At the time of the sale of the shares of the shopping centre company to Dominions, the store was partially completed. The profit was made in the ordinary course of their business of real estate promotion. The sale of shares "was merely an alternative method that they chose to adopt in putting through their real estate transactions".