Reduthie (deceased) Horsley and Another v Commissioner of Inland Revenue - [1964] NZLR 1006

Revenue — Death duties (estate duty) — Father and son exchanging cheques of equal amount and father giving son a mortgage for same amount — Whether mortgage debt deductible in calculating final balance of father's estate — Estate and Gift Duties Act 1955, ss. 5 (1) (c), 9 (2) (a).