DALGETY’S CLAIM
RELIEF FROM INCOME-TAX Times Cabl #. LONDON, Saturday. An appeal by the Crown in a case stated by tho Inland Revenue Commissioners, in which Dalgety and Company claimed relief in respect of Dominion income tax for the years 1916-24, was allofved by Mr. Justice Rowlatt in the King’s Bench Division. The point was whether the amount in respect of which the relief was due was the entire profits earned in Australia and New Zealand, or the balance after deducting the excess of interest paid on the company’s debentures over the amount of income arising in the United Kingdom. Tho Crown appealed against the commissioners’ decision that the company was entitled to relief in respect of the entire* Australian and New Zealand profits. , Mr. Justice Rowlatt held that the income charged with the payment of interest bore -a dutiable tax only so far as it exceeded the interest paid therefrom.
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Sun (Auckland), Volume II, Issue 573, 28 January 1929, Page 10
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150DALGETY’S CLAIM Sun (Auckland), Volume II, Issue 573, 28 January 1929, Page 10
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