Re. Hardy Official Guardian v. Toronto General Trusts Corp. et al., [1956] S.C.R. 906 (1956)

Linked as:

Extract

Re. Hardy Official Guardian v. Toronto General Trusts Corp. et al., [1956] S.C.R. 906 (1956)

Supreme Court of Canada

Re. Hardy Official Guardian v. Toronto General Trusts Corp. et al., [1956] S.C.R. 906

Date: 1956-10-02

In the Matter of the Trust Deed of Arthur Sturgis Hardy;

The Official Guardian, representing infants and unborn and unascertained persons who may be interested in the corpus of the estate (Plaintiff) Appellant;

and

The Toronto General Trusts Corporation, Trustee, Arthur S. Hardy, Josephine Hardy, Dorothy Elvidge and Ian F.H. Rogers (Defendants) Respondents.

1956: June 5, 6; 1956: October 2.

ON APPEAL FROM THE COURT OF APPEAL FOR ONTARIO.

Companies-Distribution of accumulated profits in form of stock dividend-Immediate redemption of shares so issued-Effect-Whether proceeds income or capital in hands of trustee-shareholder-The Income Tax Act, 1948 (Can.), c 52, s. 95A, enacted by 1950, c. 40, s. 32-The Companies Act, R.S.C. 1952, c. 53, s. 83(3).

Trusts and trustees-Trust assets including shares in incorporated company-I...

See the full content of this document