New Zealand Flax Investments Ltd v Federal Commissioner of Taxation

61 CLR 179

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(Decision by: McTiernan J)

New Zealand Flax Investments Ltd
v Federal Commissioner of Taxation

Court:

Judges: Rich J
Starke J
Dixon J

McTiernan J

Subject References:
Taxation and revenue
Income tax
Assessable income
Deductions claimed for future interest
Payment of bonds by instalments

Legislative References:
Income Tax Assessment Act 1922 No 37 - ss 23(1); s 25

Hearing date: SYDNEY 26 August 1938; 29 August 1938; 22 November 1938;
Judgment date: 22 November 1938

Sydney

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Decision by:
McTiernan J

I agree, for the reasons stated by my brother Dixon, that the assessments should be set aside and that they be remitted to the Commissioner of Taxation for reassessment.