13 Jan 1968
COMMISSIONER OF INLAND REVENUE v. MONTANA LANDS LTD
- Citation
- COMMISSIONER OF INLAND REVENUE v. MONTANA LANDS LTD
- Court
- Court of First Instance
- Case number
- HCIA3/1967
Instalments of purchase price not yet accrued due under executory contracts for sale of flats are not to be brought into account as earned profits in the basis period; the company's method of accounting (including profits only to extent of instalments received) conforms to established accountancy principles and is an appropriate basis for taxation; Board of Review decision upheld.