Dalgety v Commissioner of Taxes - (1912) 31 NZLR 260

Revenue — Income-tax — Profits — Clearing Sale of Stock — Price realized in Excess of Amount of Valuation of Stock at Beginning of Year — Deductions — Crown Lease — Loss on Realization of Improvements — Loss of Capital — The Land and Income Assessment Act, 1908, Sections 78, 79, 87.