James v Commissioner of Inland Revenue - [1973] 2 NZLR 119

Income tax — Settlement and transfers of assets and income — Taxpayer lending interest-free loan repayable on demand to trustees of family trust — Trustees lending same to company, taxpayer and trustees being shareholders — Company buying farm from taxpayer with loan moneys and leasing farm to taxpayer — Taxpayer liable for tax on interest paid by company to trustees — Land and Income Tax Act 1954, s 105.