1 Aug 2005
WESON INVESTMENT LTD v. THE COMMISSIONER OF INLAND REVENUE
- Citation
- WESON INVESTMENT LTD v. THE COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCA272/2004
The court held the plaintiff was not entitled to recover common law restitutionary interest on refunded tax: the IRO provides the statutory mechanism for refunds and for protection of a taxpayer disputing an assessment by purchase of a TRC; the plaintiff failed to comply with the TRC condition and paid in default without legitimate protest; taxing statutes are to be interpreted strictly; Article 105 Basic Law did not require commercial interest compensation; therefore no common law interest payable and the claim was dismissed.