Rangatira Ltd v Commissioner of Inland Revenue - [1997] 1 NZLR 129

Revenue — Income tax — Capital gains tax — Company investing in shares to produce income for charities — Change of policy to sell high-price low-yielding shares to reinvest for purposes of improving income — Whether selling shares part of company's ordinary business or an ordinary incident of its business — Income Tax Act 1976, ss 65(2)(a) and (e).