Read the full judgment text of CACV 000015/2006 on BabelCite. This Court of Appeal judgment was delivered on 10 November 2006.
1. The appellant was the owner of a high-rise building (‘the new building’) situated at No. 49 Conduit Road, Hong Kong (‘the property’). It disposed of the flats in the new building in 1996. The Commissioner of Inland Revenue (‘the Commissioner’) assessed the profits arising from the disposal of the flats to be subject to profits tax under section 14(1) of the Inland Revenue Ordinance (‘the Ordinance ’).
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