Evans v Deputy Federal Commissioner of Taxation (South Australia)
55 CLR 801936 - 0213B - HCA
Between: Evans
And: Deputy Federal Commissioner of Taxation (South Australia)
Judges:
Rich J
Starke J
Dixon J
Evatt J
Subject References:
Taxation and revenue
Income tax
Shareholder in company
Profit arising from sale of assets
Purpose of original acquisition
Mining company
Acquisition of leases by nominees
Subsidiary companies
Enlargement of capital
Distribution of shares
Capital or income
Distribution of surplus assets
Appreciation
Legislative References:
Income Tax Assessment Act 1922 (Cth) No 37 - s 16(b)(i)(1); s 16(b)(i)(2)
Judgment date: 13 February 1936
MELBOURNE
ORDER
Appeal allowed with costs. Order of the Supreme Court discharged. In lieu thereof order that the appeals from the amended assessments be allowed with costs, that the amended assessment for the financial year ending 30th June 1931 be set aside, and that the Commissioner be at liberty to make a fresh assessment, and that the amended assessment for the financial year ending 30th June 1932 be reduced by excluding from the assessable income the sum of PD222 being the dividend of PD300 less PD78 thereof already allowed in the amended assessment, and that the amended assessment be remitted to the Commissioner to give effect to the reduction.
ON APPEAL FROM THE SUPREME COURT OF SOUTH AUSTRALIA.
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