8 May 2024
KETUA PENGARAH HASIL DALAM NEGERI MALAYSIA REVENUE POINT SDN BHD
- Citation
- W-01(A)-103-02/2022 (Mahkamah Rayuan)
- Court
- A
- Case number
- W-01(A)-103-02/2022 (Mahkamah Rayuan)
The Court of Appeal held the SCIT’s findings that the disposals were an adventure in the nature of trade were supported by evidence and reasonably reached; the High Court erred in substituting its view. Accordingly the gains from sale of the 59 units are trading receipts taxable under section 4(a) ITA; best judgment assessments for YA2009 and YA2010 and penalties under section 112(3) ITA were valid. The SCIT decision is reinstated.