Read the full judgment text of CACV 150/2011 on BabelCite. This Court of Appeal judgment was delivered on 16 August 2013.
1. On 4 December 2012, this court handed down judgment dismissing the appeal of the Commissioner of Inland Revenue against the judgment of Barma J. We agreed with the judge that the payment of a sum of US$449 million odd (“the Sum”) received by the taxpayer AFSC from the Airport Authority was not chargeable to profits tax under section 14 of the Inland Revenue Ordinance, Cap 112 (“the Ordinance”), nor was the Sum taxable by virtue of sections 15(1)(m) and 15A(1). The Commissioner does not seek l
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