Commissioner of Inland Revenue v Trustpower Ltd - [2015] 3 NZLR 658

Revenue — Income tax — Whether expenditure tax deductible — Whether expenditure on revenue or capital account — Whether connection between expenditure and income — Whether expenditure related to extending business structure — Whether development projects had value as capital assets — Whether resource consents were investment in capacity — “Property” — “Depreciable intangible property” — “Depreciable property” — Income Tax Act 2004, ss DA 1, DA 2, DA 3, DB, EE 1, EE 6, EE 7, EE 53, OB 1 and 13B.