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High Court Wellington
13, 14, 15, 16 November 1995
Fisher J
13, 14, 15, 16 November 1995
Fisher J
Revenue — Income tax — Deductions — Expenditure incurred by a partnership that did not produce income — Whether taxpayers were carrying on a business — Operational activity — First-year depreciation — Income Tax Act 1976, ss 104(b) and 112(3)(b).