Commissioner of Inland Revenue v Edge - [1956] NZLR 799

Public Revenue — Income Tax — Purchase of Trading Stock — Livestock bought at Public Auction as Part of Farm as Going Concern — Stock not sold in Ordinary Course of Business — Commissioner apportioning Sale Value of Stock at less than Amount likely to be realized at Local Stock-sale — Amount of Such Apportionment "the market price" — Stock not sold at "less than the market price . . . on the day of the sale" — Land and Income Tax Amendment Act 1926, s 5 — Land and Income Tax Amendment Act 1949, s 9 (1).