16 Feb 2000
SECAN LTD v. COMMISSIONER OF INLAND REVENUE
- Citation
- SECAN LTD v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of Appeal
- Case number
- CACV20/1999
Court held that statutory provisions (s16(1)(a) and s19C(4) IRO) permit and in effect require deduction of interest incurred in the basis periods and carrying forward unused losses even though interest was capitalised in company accounts; capitalisation for Companies Ordinance purposes does not preclude claiming the statutory tax deduction and the Board's finding to the contrary was wrong.