Hearings
Hong Kong
27 Jan 1997 [1997] AC 505; [1997] 2 WLR 334, PC
Wharf Properties Ltd v Comr of Inland Revenue
Subject Matter
REVENUE — Hong kong — Revenue — Profits tax — Deduction of expenses — Taxpayer borrowing money to purchase tram depot for redevelopment — Whether interest on loans “expenditure of a capital nature” — Whether deductible in ascertaining taxpayer's chargeable profits — Inland Revenue Ordinance, ss 16(1)(a), 17(1)(c)
Appellate History
Wharf Properties Ltd v Comr of Inland Revenue [1995] 2 HKLR 552
Decision of the Court of Appeal of Hong Kong affirmed
Wharf Properties Ltd v Comr of Inland Revenue [1997] AC 505; [1997] 2 WLR 334, PC