Commissioner of Inland Revenue v Waitaki International Ltd - [1990] 3 NZLR 27

Income tax — Deductions — Capital expenditure on energy conservation measures — Taxpayers who owned meat works installed insulation panels in new cold-stores — Taxpayers claimed deduction in respect of costs of acquiring and installing the panels — Whether insulating panels were plant — Whether panels were installed for use for the purpose of energy conservation — Whether panels provided insulation against energy loss of buildings — Whether costs of panels were deductible — Income Tax Act 1976, s 125.