Plimmer v Commissioner of Inland Revenue - [1958] NZLR 147

Revenue — Income tax — Scheme to obtain Control of Company by Acquisition of Ordinary Shares — Sale of Such Shares conditional on Purchaser's acquiring Preference Shares — Acquisition of Preference Shares not "for the purpose of selling or otherwise disposing of" them — Profit on Subsequent Sale of those Shares not taxable — Land and Income Tax Act 1923, s. 79 (1) (c).