12 Jul 2019
PERFEKTA ENTERPRISES LIMITED v. COMMISSIONER OF INLAND REVENUE
- Citation
- [2019] HKCFA 25
- Court
- Court of Final Appeal
- Case number
- FACV11/2018
On the undisputed primary facts the appellant did not change its intention to trade; the redevelopment and trading venture was undertaken by its separate subsidiary Prodes; therefore the Initial Payment was capital in nature and not chargeable to profits tax; the Court substituted the contrary conclusion because it was the true and only reasonable conclusion on the facts.