APPEAL FAILS
INCOME TAX ASSESSMENT. (Per Press Association.—Copyright.; WELLINGTON, This Day. Income tax assessed on interest paid by a company on overseas commitments, postponed in anticipation of a fall in the exchange rate, was .the subject of an action heard by Mr Justice MacGregor in the Supreme Court yesterday. The case was one in which Bryant and May, Bell and Company, Ltd., match manufacturers, Wellington, appealed to the Court against an assessment by the Commissioner of Taxes on a sum of £1173 16/10 interest on money paid by the company to its parent company in England. His Honour held that the Commissioner’s assessment was the correct one and dismissed the appeal, with 15 guineas costs and disbursements.
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Northern Advocate, 18 July 1933, Page 8
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117APPEAL FAILS Northern Advocate, 18 July 1933, Page 8
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