Read the full judgment text of CACV 000116/1986 on BabelCite. This Court of Appeal judgment.
1. A dispute has arisen as to the liability of the appellant Company to pay profits tax assessed on gains accruing upon the disposal of eighteen parcels of real estate. Such liability would exist only if the property constituted trading stock and not, as the Company contends, capital, assets. The Commissioner having decided that the properties were trading assets, the Company appealed to the Board of Review, which upheld his decision. The Company then appealed by way of Case Stated to the High C
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