Macfarlane v Commissioner of Taxes - [1923] NZLR 801

Revenue — Income-tax — Standard Value adopted for Stock — Difference between Standard Value at Beginning of Income-year and Real Value at Taxpayer's Death — Whether assessable Income — Sale or Disposition — Land and Income Tax Act, 1916, ss 18, 85, 90, and 93 — Regulations, NZ Gazette, 1917, Vol ii, p 2054.