Read the full judgment text of HCIA 000003/1970 on BabelCite. This HCIA judgment was delivered on 24 December 1970.
1. The respondent company (hereinafter referred to as "the taxpayer") was incorporated on 28th July 1965 with a view to taking over the business of Hong Kong Bottlers Fed. Inc. (hereinafter referred to as "the American company"). The taxpayer acquired the share capital of the American company; and its business was transferred as a going concern with its assets in specie to the taxpayer. The American company then went into voluntary liquidation.