Williams Property Developments Ltd v Commissioner of Inland Revenue - [1980] 1 NZLR 280

Income tax — Assessable income — Onus of proof — Sale of trading stock for inadequate consideration — Whether land had been "acquired . . . for the purpose of sale or other disposal" within s 102(3) of the Land and Income Tax Act 1954 - Inland Revenue Department Act 1974, s 36.