THE COMMISSIONER OF INLAND REVENUE v. TAI ON MACHINERY WORKS LTD
- Citation
- THE COMMISSIONER OF INLAND REVENUE v. TAI ON MACHINERY WORKS LTD
- Court
- Court of First Instance
- Case number
- HCIA2/1968
Premises used by a trader for storage and incidental sorting/packing as part of that trader's wider buying and resale business do not qualify as an 'industrial building or structure' under s.40(1); interest incurred during construction of a revenue-earning asset is capital in nature and not deductible under s.16(1) because s.17(1) excludes capital expenditure.