31 Jul 1992
ALL BEST WISHES LTD v. COMMISSIONER OF INLAND REVENUE
- Citation
- ALL BEST WISHES LTD v. COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA1/1992
The High Court upheld the Board of Review's finding of fact that the taxpayer had the intention from the outset to turn the development into sales (an adventure in the nature of trade); there was sufficient evidence and the decision was not unreasonable or perverse, so the profits were properly assessable to profits tax and the Board's assessments were affirmed.