Read the full judgment text of HCIA 000003/1991 on BabelCite. This HCIA judgment was delivered on 12 December 1991.
1. This is an appeal, from a Board of Review constituted under the Inland Revenue Ordinance, Cap. 112 ("the Ordinance"), which comes to the Court by way of a case stated by the Board on 23rd July 1991. The appellant ("the taxpayer") appeals from the Board's decision, given on 28th November 1990 after a two-day hearing on 13th and 14th December 1989, in favour of the respondent ("the commissioner") on the question whether the taxpayer's purchase in or about 1975 for $1,716,142 of some agricultura