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High Court Wellington
3, 4 April; 18 May; 23 June 1967
Speight J.
Court of Appeal Wellington
15, 16 May; 28 June 1968
North P., Turner J., McGregor J.
3, 4 April; 18 May; 23 June 1967
Speight J.
Court of Appeal Wellington
15, 16 May; 28 June 1968
North P., Turner J., McGregor J.
Income tax — Deductions — Losses — Advances made to associated company — Written off — Purpose of advances — Whether capital or income — Whether deductible — Principles to be applied — Land and Income Tax Act 1954, ss. 111, 112.