Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Form versus substance

  • 9 Sept 2005

    COMMISSIONER OF INLAND REVENUE v. TAI HING COTTON MILL (DEVELOPMENT) LTD

    Citation
    COMMISSIONER OF INLAND REVENUE v. TAI HING COTTON MILL (DEVELOPMENT) LTD
    Court
    Court of First Instance
    Case number
    HCIA8/2004

    The court held the Site II Agreement did have the effect of conferring a tax benefit because the interposition of the wholly owned Taxpayer converted proceeds of redevelopment that exceeded market value into purported land cost, thereby reducing taxable profits; having considered the s61A(1) factors objectively and globally the dominant purpose was to enable a tax benefit; the Balance Consideration is not deductible under s16 as it was an appropriation of profits or payment to acquire the opportunity to earn profits rather than an expense incurred in producing them. The Board erred in law and…

  • 1 Nov 1985

    RE YAM SZE PUI

    Citation
    RE YAM SZE PUI
    Court
    Court of First Instance
    Case number
    HCB413/1985

    Amendments to bankruptcy petitions are permissible where the error is one of form because the correct act of bankruptcy date can be calculated from facts correctly pleaded; however where service was by post and the petition does not state that service is deemed after a prescribed period so that the effective date cannot be calculated, the defect is substantive and the petition must be dismissed if the three month period has expired; if the three month period has not expired leave to amend may be granted to state the deemed date of service.