29 Mar 2006
LEE YEE SHING JACKY AND ANOTHER v. COMMISSIONER OF INLAND REVENUE
- Citation
- LEE YEE SHING JACKY AND ANOTHER v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA11/2005
The Board's factual findings and credibility assessments were supported by the evidence and documentation; on the facts found Mr Lee did not discharge the onus of proving he was carrying on a trade in securities and futures. The inference that he was an enthusiastic investor rather than a trader was open on the primary facts (transaction frequency and holding periods, late business registration, inconsistent use and disclosure of YST, absence of audited accounts and adverse credibility findings). The Court therefore upheld the Board's decision and dismissed the appeal.