25 Jan 1977
COMMISSIONER OF INLAND REVENUE v. WOO KWOK-HING
- Citation
- COMMISSIONER OF INLAND REVENUE v. WOO KWOK-HING
- Court
- Court of First Instance
- Case number
- HCIA2/1976
Where separate businesses owned by one individual are aggregated under s.15A, a loss from a business that ceased during the year is to be treated as incurred in that year and, pursuant to s.19, any unabsorbed loss is carried forward; s.19A(2)'s directed-accounting-date rule applies to continuous businesses and does not prevent treating the share-dealing loss as incurred in 1973/74, so the Board of Review correctly allowed the $30,654 carry forward.