29 Jan 1968
TAI SHUN INVESTMENT CO LTD v. COMMISSIONER OF INLAND REVENUE
- Citation
- TAI SHUN INVESTMENT CO LTD v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA2/1967
The court held that the company's land development and sale business had ceased on or before 31 March 1965 and that the liquidator's subsequent collection of outstanding instalments, arrears, receipt of limited interest and execution of conveyances were acts reasonably necessary to wind up the company and did not amount to carrying on the trade; accordingly the Board of Review's contrary conclusion could not be sustained and the appeal was allowed.