Commissioner of Inland Revenue v Hunter - [1970] NZLR 116

Income tax — Income tax payable — Assessable income — Overseas securities purchased with overseas currency — Sold immediately in New Zealand currency — Purpose of transaction — Profit or gain — Land and Income Tax Act 1954 (Reprint 1967), s. 88(1)(c) - Finance Emergency Regulations 1940 (Reprint S.R. 1953/113), Reg. 3(2).