Case Q118

Judges:
HP Stevens Ch
BR Pape M
TJ McCarthy M

Court:
No. 1 Board of Review

Judgment date: 22 November 1983.

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H.P. Stevens (Chairman)

I have had the advantage of reading the reasons prepared by my colleague Mr. McCarthy and I adopt his findings of fact. I agree with his conclusion in respect of the taxpayer company and have nothing further to add. In relation to the taxpayer shareholder's claims I also agree with his conclusion and merely wish to refer to my reasons in Case M56,
80 ATC 369 for the purpose of indicating that, despite the persuasive arguments of counsel for the Commissioner, I can see no reason to depart therefrom. Accordingly I join with my colleague in the decisions set out in para. 26 of his reasons.