Read the full judgment text of HCIA 1/2015 on BabelCite. This HCIA judgment was delivered on 14 October 2015.
1. This is an appeal by way of case stated against a decision of the Board of Review brought by the Commissioner of Inland Revenue pursuant to section 69 of the Inland Revenue Ordinance (Cap 112) (“the Ordinance”). The underlying dispute for the purpose of this appeal concerns whether a property purchased and subsequently sold by Crown Brilliance Limited (“the taxpayer”) in 1997 was a capital asset or its trading stock. The background facts may be summarised as follows.
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