12 Dec 1991
WINFAT ENTERPRISE (HK) LTD v. COMMISSIONER OF INLAND REVENUE
- Citation
- WINFAT ENTERPRISE (HK) LTD v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA3/1991
The Board reasonably found that the taxpayer's report and proposed condominium scheme evidenced an intention to sell units; on the facts found the only reasonable conclusion was not established by the taxpayer, so the gain was properly treated as part of an adventure in the nature of trade and chargeable to profits tax.