Kauri Timber Co v Commissioner Of Taxes - [1926] NZLR 64

Revenue — Income-tax — Assessment — Timber Company — Sale of Business and Assets in globo by Company to another Company of same Name and carrying on same Business — Comprehensive Consideration for Sale of Assets — Consideration not apportioned to different Parts of Assets — Valuation in Books of Purchaser of Standing Timber purchased greater than corresponding Valuation in Books of Vendor — Whether Difference in Valuations Profit derived by Vendor from "Sale of Timber" — Land and Income Tax Act, 1916, s 85.