IN THE COURTS.

Stratford Evening Post, Volume XXXII, Issue 81, 2 April 1912, Page 2

IN THE COURTS.

(Per Press Association.) Wellington, April 1. The Appeal Court sat to hear argument in the cases of the Taupo Totara Timber Co. v. Commissioner of Taxes and Kauri Timber Co. v. tin same, the cases being argued together, the question being in what cases (if at all) and to what extent is a timber company which owns standing timber entitled in its assessment for income tax to deduct from the gross proceeds of its business the value of standing timber so cut by it. The companies contend that they should lie allowed to deduct from the gross returns the price of standing timber. Sir J. G. Findlay and Mr J. Stout are for the Taupo Co., Messrs Cotter and Schrauer for the Kauri Co., and the Solicitor-General for the Commissioner of Taxes. Argument is of a technical nature. The case is likely to last well into to-morrow.