7 Mar 2008
CANTON INDUSTRIES LTD v. COMMISSIONER OF INLAND REVENUE
- Citation
- CANTON INDUSTRIES LTD v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA6/2007
Permanent quota acquisition was a once‑and‑for‑all expenditure that conferred an enduring benefit and became part of the appellant's profit‑yielding structure (fixed capital); therefore the expenditure was capital in nature and not deductible from assessable profits under the IRO