Commissioner of Inland Revenue v Soma President Textiles Ltd - [1995] 1 NZLR 375

Revenue — Income tax — Assessable income — Timing — Insurance receipts under business interruption policy — Amounts payable not readily estimable until final settlement agreement — Interim refundable payments by insurer — Whether income derived as if spread over indemnity period, or when interim payments made or on final settlement — Whether an estimated sum is income although not recoverable — Income Tax Act 1976, s 65.