9 Nov 1989
BEAUTILAND CO LTD. v. COMMISSIONER OF INLAND REVENUE
- Citation
- BEAUTILAND CO LTD. v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA1/1989
On the facts found the sale of Rostock shares was an isolated realisation motivated by market opportunity and development difficulties and was not an integral method of carrying on the Appellant's business of land development; the Board lacked sufficient basis to infer an intention to trade in shares as part of the ordinary business, therefore the profit was not trading income and the appeal is allowed.