Spezzano v. Canada, 2007 DTC 5580, 2007 FCA 294 -- summary under Compensation Payments

There was no reviewable error in the finding of C. Miller J below that a lump sum payment received by the taxpayer from the sole tenant of its building in consideration for the termination of the lease was received on income account. Noël JA stated (at paras. 28-9) that he saw no error in the findings below that "the sole capital asset acquired by the appellants was the building and that the long term lease was but a means of exploiting that asset," and that "the payment in issue was intended to replace rents otherwise payable under the long term lease."