STANDING TIMBER.
KAURI COMPANY'S APPEAL. AGAINST COMMISSIONER'S ASSESSMENT. (By Association.) -" WELLINGTON, this day. The Court of Appeal this morning is considering an appeal by the Kauri Timber Co., Ltd. (.Messrs. Skerrett and Tuck) against assessment by the Commissioner of Taxes (Messrs. Myers, K.C., and Fair) for alleged profit on a sale of standing timber by the appelland company to a company of the same name. Mr. Skerrett submitted for appellant that the standing timber was not part of the stock-in-trade of the appellant, but was part of the circulating capital of the company, and, this bejng so, appellant was entitled to deduct for assessable income the value of the standing timber. Argument is proceeding.
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Bibliographic details
Auckland Star, Volume LV, Issue 250, 21 October 1924, Page 4
Word Count
114STANDING TIMBER. Auckland Star, Volume LV, Issue 250, 21 October 1924, Page 4
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