COMMISSIONER OF INLAND REVENUE (Applicant in FAMV 56/2018, Respondent in FAMV 57/2018) v PERFEKTA ENTERPRISES LIMITED (Applicant in FAMV 57/2018, Respondent in FAMV 56/2018)

Read the full judgment text of FAMV 56/2018 and FAMV 57/2018 on BabelCite. This Court of Final Appeal judgment was delivered on 13 November 2018 before Ribeiro PJ, Fok PJ, Cheung PJ.

Tax law – case stated – board of review – majority decision – minority decision – substitution – remittal – leave to appeal – great general or public importance – property at Cheong Yip Street, Kwun Tong – change of intention – trading asset vs capital asset – Court of Final Appeal grants leave to taxpayer on question whether court can substitute minority decision for majority decision or must remit – leave refused to Commissioner – appeal to be heard on 18 June 2019

Legal issues: Substitution of minority decision for majority decision in tax case stated

Outcome: Leave to appeal granted to the Taxpayer (Perfekta Enterprises Limited) on the question of great general or public importance; leave to appeal refused to the Commissioner.

Cites 2 cases