Privy Council.

Judgment delivered 20 March 1986.

Income tax – Malaysia – Commissioners – Sale of hotel – Whether profit capital or income – Whether Commissioners had sufficient evidence before them to conclude that proceeds of sale were profits and taxable – Income Tax Ordinance 1947 (Malaysia), sec. 10(1)(a).

  L, the taxpayer, was a private limited company incorporated in Malaysia. It was set up to purchase property for investment and to buy and sell real and personal property. It also carried on the business of hotel, restaurant and café keepers.

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