Timaru Herald Company Limited v Commissioner of Taxes - [1938] NZLR 978

Public Revenue — Income-tax — Deductions — One Newspaper Company equitable Owner of all Shares in and exercising Control by Nominal Directorship over Another Newspaper Company — Agreement by Former Company to pay Latter a Yearly Sum in Consideration of Latter not raising Newspaper Price — Whether such Sum Capital or Income — Whether deductible as Expenditure or Cost incurred in the Production of Assessable Income — Conclusiveness of Facts in Case Stated under s 35 — Effect of Statements of Hearsay — Land and Income Tax Act, 1923. ss 35, 80 (2), 170.