Northern Roller Milling Company Limited v Commissioner of Taxes - [1952] NZLR 477

Public Revenue — Income-tax — Deductions — Lease providing Lessee liable only for Payment of Reduced Rental — Reduction not Set-off in Nature of Capital Receipt — Amount only as reduced and paid allowable as Deduction — Commissioner of Taxes formerly allowing Deduction of Higher Amount — No Estoppel against Him — Taxpayer's Book-keeping Entries not Conclusive — "Loss" — "Expenditure" — Land and Income Tax Act, 1923, s 80 (2).