24 May 1989
CORPORA ENTERPRISES LTD v. COMMISSIONER OF INLAND REVENUE
- Citation
- CORPORA ENTERPRISES LTD v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA9/1988
Because the assessor's estimated assessment for 1981/82 is final and conclusive under s70, establishing assessable profits for that year, the factual premise of a loss for that year cannot be recognised for any purpose of the Ordinance; therefore the unclaimed 1981/82 loss could not be carried forward or set off under s19C(4).
- Loss carry‑forward
- Assessable profits
- Finality of tax assessment
- Statutory estoppel
- Application of inland revenue ordinance s19c(4) and s70