12 May 1989
LOUIS KWAN-NANG KWONG AND ANOTHER v. COMMISSIONER OF INLAND REVENUE
- Citation
- LOUIS KWAN-NANG KWONG AND ANOTHER v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of Appeal
- Case number
- CACV16/1989
The Court held that on the agreed and found facts the letting of the cinema amounted to the letting of a going concern (premises plus fixtures, fittings, equipment and the benefit of the licence and protected goodwill) at rentals exceeding rateable value; those circumstances convert the transaction into carrying on a "business" for s.14 purposes and the receipts were properly assessable to profits tax; apportionment was not ordered due to lack of evidence and no basis to isolate a taxable proportion.