Before going on to find that the taxpayer was not entitled to an allowable business investment loss deduction on the basis that the taxpayer had not actually made an investment in a Canadian controlled private corporation, Bowman C.J. stated (at p. 2266):
"If a taxpayer in court can demonstrate through credible oral testimony that a payment was made or an expense incurred, the court must make a finding based on that evidence and give effect to it. The court cannot avoid its responsibility to base its conclusion on the evidence adduced by saying in effect 'It doesn't matter how credible your testimony is, if you don't have a piece of paper you must necessarily lose'."