Budget Steel Ltd. v. Canada
A-498-95
Strayer J.A.
4/12/96
3 pp.
Appeal from Trial Judge's decision ([1995] G.S.T.C. 42 (T.C.C.)) re: notional input tax credit with respect to "early automobile hulks"-Latter governed by Excise Tax Act as amended in 1993-Hulks not coming within definition of "inventory" in ss. 120(1)(a), 120(2.1)-Not being held for sale "separately", rather as raw material for production of distinctly different end products, namely ferrous, non-ferrous material-Conversion of hulks into mass of shredded ferrous, non-ferrous materials involving consumption of scrap automobiles, not resale as such-Equally excluded from inventory under s. 120(2.1)-Trial Judge finding "later automobile hulks" not acquired by appellant for purpose of providing auto hulks to U.S. buyers, but for purpose of providing to them different products, namely shredded ferrous, non-ferrous materials-Appeal dismissed-Excise Tax Act, R.S.C., 1985, c. E-15, ss. 120(1)(a) (as am. by S.C. 1993, c. 27, s. 6(1)), (2.1) (as enacted idem, s. 6(4)).