{"podcast":{"title":"Supreme Court of Canada Hearings (Floor Audio)","slug":"supreme-court-of-canada-hearings-floor-audio-6708170","podcast_index_feed_id":6708170,"rss_url":"https://scchearings.ca/feed-floor.xml","website_url":"https://www.scchearings.ca","image_url":"https://pbcdn1.podbean.com/imglogo/image-logo/15488475/18948753-1635360347007-5cc6ddec9276.jpg","author":"SCC Hearings Podcast","episode_count":148,"summary":"Unedited floor audio of oral arguments at the Supreme Court of Canada, i.e., in both English and French. Created as a public service to promote public access and awareness of the workings of Canada's highest court. Not affiliated with or endorsed by the Court. Original archived webcasts can be found on the Court's website at scc-csc.ca. Feedback welcome: podcast at scchearings dot ca.","last_synced_at":null,"page_url":"https://stenobird.com/podcast/supreme-court-of-canada-hearings-floor-audio-6708170"},"episode":{"title":"Bank of Nova Scotia v. His Majesty the King (41643)","slug":"bank-of-nova-scotia-v-his-majesty-the-king-41643","published_at":"2026-01-22T14:26:44+00:00","page_url":"https://stenobird.com/podcast/supreme-court-of-canada-hearings-floor-audio-6708170/bank-of-nova-scotia-v-his-majesty-the-king-41643","show_page_url":"https://stenobird.com/podcast/supreme-court-of-canada-hearings-floor-audio-6708170","url":"https://www.scchearings.ca/e/bank-of-nova-scotia-v-his-majesty-the-king-41643","audio_url":"https://mcdn.podbean.com/mf/web/b91kw6oztj9vb5xl/2026-01-21-41643-floor.mp3","summary":"The appellant, Bank of Nova Scotia (“taxpayer”), filed its return for the 2006 taxation year, reported taxable income, and paid such taxes as it calculated to be owing. The Minister of National Revenue (“Minister”) later audited the taxpayer’s 2006 to 2010 taxation years. In March 2015, the taxpayer and the Minister entered into a settlement agreement which required additional amounts to be included in the taxpayer’s 2006 income. The day before entering into the settlement agreement, the taxpayer wrote to the Minister to request to carryback a loss from its 2008 taxation year to apply it to offset the increase in its 2006 income. The Minister reassessed the taxpayer, implementing the audit adjustment and the requested loss carryback, and imposing interest resulting from the reassessment. The Minister applied a provision that requires that, for a specified period of time, interest is calculated by ignoring the loss carryback. The computing of interest that ignores the loss carryback ceases to apply 30 days after the latest of four end dates listed in s. 161(7)(b)(i)-(iv) of the Income Tax Act. The Minister computed interest by applying s. 161(7)(b)(iv) to ignore the loss carryback until the date the taxpayer requested it. The taxpayer appealed to the Tax Court of Canada, taking the position that s. 161(7)(b)(iv) did not apply because the Minister’s reassessment of its tax for 2006 was not “as a consequence” of its request to carryback losses from 2008 to offset its 2006 tax liability. The Tax Court of Canada and the Federal Court of Appeal dismissed the taxpayer’s appeal. Argued Date 2026-01-21 Keywords Taxation — Income tax — Computation of interest payable — Minister’s reassessment taking into account audit adjustment and carryback requested by taxpayer to offset a lo…","meta_description":"The appellant, Bank of Nova Scotia (“taxpayer”), filed its return for the 2006 taxation year, reported taxable income, and paid such taxes as it calculate…","key_points":[],"chapters":[],"topics":[],"duration_seconds":8356,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/supreme-court-of-canada-hearings-floor-audio-6708170/episodes/bank-of-nova-scotia-v-his-majesty-the-king-41643/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/supreme-court-of-canada-hearings-floor-audio-6708170/bank-of-nova-scotia-v-his-majesty-the-king-41643.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}