4 Jul 2007
COMEBRIGHT DEVELOPMENT LTD v. COMMISSIONER OF INLAND REVENUE
- Citation
- COMEBRIGHT DEVELOPMENT LTD v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of Appeal
- Case number
- CACV344/2006
The Court dismissed the appeals: the Board and judge were entitled to reject the appellants' evidence that the profits were capital in nature; appellants bore the onus under s68(4) and failed to discharge it; the Board was not required to make an express finding that appellants were carrying on a trade where appellants' sole contention was that the profits were capital and that contention was rejected on the evidence, and the Board's conclusion was one reasonably open on the record.