http://decisions.fca-caf.gc.ca/fca-caf/decisions/en/item/100138/index.do 
Gouveia v. Canada (December 9, 2014 – 2014 FCA 289, Dawson (Author), Webb, Near JJA).
Précis: The Tax Court dismissed the appellant’s claim to deduct legal fees associated with charges laid by the Ontario Securities Commission and the defence of a civil class action as not being business expenses. The Federal Court of Appeal dismissed the appeal from the bench.
Decision: This was an appeal from a decision of the Tax Court that dismissed the appellant’s claim to deduct legal fees associated with charges laid by the Ontario Securities Commission and the defence of a civil class action. The Tax Court held that the legal fees were not incurred for the purpose of gaining or producing income from a business but rather to protect the taxpayer’s reputation and capacity to earn income in future. The Federal Court of Appeal dismissed the appeal from the bench:
[4] We are all of the view that this appeal must fail. The appellant has not demonstrated any error of law nor has he demonstrated any palpable and overriding error by the Judge in his finding that the fees were expended on account of capital and therefore were not deductible as a current expense because of the operation of paragraph 18(1)(b) of the
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.).