21 Oct 2011
TEPE HOLDINGS LIMITED V COMMISSIONER OF INLAND REVENUE COA CA676/2010
- Citation
- COA CA676/2010
- Court
- Court of Appeal
The Court held the transaction was a sale of shares, not a supply of a going concern: the legal rights and obligations arose from the share transfer and company constitution (including surrender of the lease), there was no evidence that chattels/partitions/tenancies were assigned or had value attributable to the sale, and Marac and Gulf Harbour require characterisation by the legal arrangements actually entered into, so s 11(1)(m) did not apply.