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High Court Wellington
10, 11, 12 October 1960; 21 February 1961
Barrowclough C.J., McGregor J., McCarthy J.
10, 11, 12 October 1960; 21 February 1961
Barrowclough C.J., McGregor J., McCarthy J.
Revenue — Income Tax — Mutual Life Assurance Society — Assessment of income tax — Income "exempt from taxation" — Must first be subject to tax and specifically exempted — Land and Income Tax Act 1954, s. 149 (2).