Précis: CBC Canada Holdings Co. (CBS) and CRA entered Minutes of Settlement. CRA subsequently refused to complete the terms of the settlement on the basis that it was unenforceable:
 CBS Canada Holdings Co., the appellant (“CBS”), brings an enforcement motion (the “Motion”) against the respondent requesting an order allowing the appeals and referring the reassessments back to the Minister of National Revenue for reconsideration and reassessment, pursuant to paragraph 171(1)(b) of the Income Tax Act, in accordance with the terms of the Minutes of Settlement, including Schedule A, concluded by the parties (the “Minutes”). Immediately after, the Court was notified a settlement had been reached pursuant to subsection 169(3) of the Income Tax Act.
 CBS says the Minutes constitute a legally valid and binding settlement agreement after eight months of negotiations and the Minister is obligated to reassess CBS’ taxation years ended March 7, 2007 and December 31, 2007 (collectively the “2007 Years”), December 31, 2008, December 31, 2009 and December 31, 2010 (collectively the “subsequent years”) consistent with the Minutes. In part, to reallocate to CBS a non-capital loss in the amount of $24,366,301 (the “NCL”) in its taxation year ended March 7, 2007. CBS contends the NCL is available for carry-forward from its predecessors arising in years prior to the 2007 Years.
Justice Lyons agreed with the Appellant and directed CRA to reassess in accordance with the terms of the Minutes of Settlement. Thus CBS’s motion to enforce the Minutes of Settlement was allowed with costs.
CBS Canada Holdings v. R. – TCC: Court orders CRA to comply with terms of Minutes of SettlementPlus >