A fond look back at the last Tax Court of Canada case

Canadian tax lawyer David Rotfleisch, founder and senior tax lawyer of Rotfleisch & Samulovitch PC, was recently featured in an article published in Canadian-Accountant.com. In this article, he highlighted some of the key points in the Income Tax Act and shared his thoughts on the case of Saini v The Queen. “

Justice Bocock also helpfully summarized the defences/arguments available to those who challenge the net-worth method of assessment. Justice Bocock summarized these as follows: The taxpayer may challenge the need for a net-worth assessment; The methodology used by the CRA can be challenged itself; and The taxpayer may challenge the quantum of the assessment based on prima facie errors, what Justice Bocock calls “Patent Errors.” — Canadian-Accountant.com, “A Fond Look Back at the Last Tax Court of Canada Case”

Check out the full article here.