Whether the principles in Continental Bank ([1998] 2 S.C.R. 358) apply to to a rollover and sale transaction where capital property is exchanged for shares on a rollover basis and the shares are immediately resold, such that a gain on the sale of the shares is a capital gain for the purposes of the Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.)) — Principles which appellate courts should apply in interpreting lower court pleadings to identify the issue that was raised in the lower court and to determine whether the issue raised on appeal is a genuinely new issue or a component of an existing issue — Whether the principles that apply in determining whether a new issue has been raised for the purposes of the “large corporation” rules in subsections 165(1.11) and 169(2.1) of the Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.)) also apply for the purposes of the common law rule regarding raising new issues on appeal. — dismissed 10/15/2020 — Supreme Advocacy acted as agent for the Applicant.

Read the lower court decision from the FCA here.