Read the full judgment text of CACV 150/2011 on BabelCite. This Court of Appeal judgment was delivered on 4 December 2012.
1. This is an appeal by the Commissioner of Inland Revenue against the judgment of Barma J on 8 July 2011. The judge allowed an appeal by the taxpayer, Aviation Fuel Supply Company (“AFSC”) from a determination of the Deputy Commissioner of Inland Revenue made on 11 February 2009. By that determination, the Deputy Commissioner confirmed the profits tax assessment for the year of assessment 2003/04 which, inter alia , charged AFSC to profits tax of a payment of US$449,043,000 (“the Sum”), receive
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