Tennant v. M.N.R., 96 DTC 6121, [1996] 1 S.C.R. 305 -- summary under Reciprocity

Iacobucci J. rejected the Crown's position that where an investment was sold and the proceeds fully utilized to acquire an investment with a lower cost, that there was a corresponding loss of an interest deduction to the taxpayer, as resulting in "an irrational asymmetry", because there would be no corresponding increase in an interest deduction if the replacement property instead had a higher cost.