The Law Reports (Appeal Cases)
[1967] 1 AC 587
[PRIVY COUNCIL]
COMMISSIONER OF INLAND REVENUE APPELLANT AND MUTUAL INVESTMENT CO. LTD. RESPONDENT
ON APPEAL FROM THE SUPREME COURT OF HONG KONG
1966 June 13,
14;
July 20
July 20
LORD PEARCE, LORD WILBERFORCE and SIR GARFIELD BARWICK.
Hong Kong
— Revenue
— Profits tax
— Deductions
— Profits from dividends
— Profits not subject to deduction of expenses
— Additional business subject to deductible expenses
— Deduction for “purpose of ascertaining … assessable profits”
— Whether distinction between Chargeable and assessable “profits”
— Whether all expenses incurred in production of profits deductible
—
Inland Revenue Ordinance of Hong Kong (c. 112)
as amended by Inland Revenue (Amendment) Ordinance, 1956, ss. 2, 14 (1), 16 (1), 17 (1), 18A, 26 (a).