Rikley v. The Queen, 2001 DTC 756 (TCC) -- summary under Business Source/Reasonable Expectation of Profit

Before finding that the taxpayer was entitled to deduct losses incurred by him in operating a yacht for charter in the Caribbean, Bowman A.C.J. noted that there is no personal element, that "the Minister should not second guess the appellant's business judgment", that the taxpayer was entitled to a reasonable period to get the business established, that the utilization by the taxpayer of accelerated capital cost allowance could not be used to enhance the Minister's reasonable expectation of profit argument, and that there was nothing irrational, absurd or ridiculous in the taxpayer's expectation of profit.