30 Nov 2001
BRAND DRAGON LTD. v. THE COMMISSIONER OF INLAND REVENUE
- Citation
- BRAND DRAGON LTD. v. THE COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA2/2001
The Board was entitled to infer the companies' intentions from the acts and intentions of their controlling minds; consideration of controllers' financial ability and the repayment terms of the bank loan supported a finding of trading intention; there was no impermissible piercing of the corporate veil and the Board's inferences were reasonable and sustainable on the facts, therefore the appeals fail.