Autobus Thomas Inc. v. R., 99 DTC 259, [1999] 2 CTC 2001 (TCC) -- summary under Subsection 181(3)

Before concluding that amounts owing by the taxpayer represented by conditional sales contracts that had been assigned by the vendor to a bank were included in the taxpayer's capital under s. 181.2(3)(d), Dussault TCJ. indicated that some assistance was garnered from the presentation of the amounts in the taxpayer's audited financial statements as "notes payable" but noted (at p. 265) that "the title given to a particular item in financial statements is not necessarily determinative of the legal nature of what it is supposed to represent".