Précis: This case involved income tax appeals by both Centrepoint Foods Corporation (“Centrepoint”) and its principal shareholder as well as a GST appeal by Centrepoint. The assessments turned on alleged under-reported sales and over-stated expenses from a Saint Cinnamon franchise in a shopping mall in Kingston, Ontario. In a nutshell the taxpayers were represented by an agent who claimed to have documentation to support the taxpayer’s position on expenses which he actually displayed to the Court but never introduced into evidence.
Centrepoint Foods v. R. - TCC: Most gross negligence penalties vacated - balance of appeals dismissedREAD MORE »