IMPORTANT TO LAND SYNDICATES

Wanganui Herald, Volume XXXXVI, Issue 13422, 8 July 1911, Page 3

IMPORTANT TO LAND SYNDICATES

PROFITS AND INCOME TAX. (Per United Press Association.) YVELINGTCLN. July 7. Tho Appeal Court sat this morning to hoar two special cases under the Land and Income Assessment Act—the. Commissioner of Taxes v. Bolton, Dwan, and others, and the same v. Bolton, Aan Stavereu and others. The question involved was whether profits made from the sale of land were liable to income tax. Mr. Hell, lor the Commissioner, eontended that a body of persons or a syndicate was in no different position to a company. He cited the. case of tho Miramar Land Company.