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Accent Management Limited, Lexington Resources Limited, and Redcliffe Forestry Ventures Limited v Commissioner of Inland Revenue - SC 44/2007

Media releases

Summary

Civil – income tax appeals – designated as test cases by Commissioner – all appellants investors in “Trinity” forestry scheme – whether Court of Appeal erred in upholding Commissioner’s assessments – correct approach to application of Peterson v CIR [2006] 3 NZLR 433 – whether appellants’ investment in scheme a tax avoidance arrangement within meaning of ss BB 9 and BG 1 of the Income Tax Act 1994  – whether insurance premiums required to be spread under accruals rules – whether Commissioner’s power to reconstruct arrangements to eliminate improper tax advantage exercised correctly – whether appellants took an abusive tax position – whether application of penalties to the appellants wrong in law and excessive.CA 21/05   11 June 2007

Result

Application for leave to appeal granted.
9 October 2007
_____________________
Appeal dismissed. Costs to the respondent.
19 December 2008

Related Documents

Leave judgment - leave granted — BEN NEVIS FORESTRY VENTURES LIMITED AND ORS And Anor SC 43/2007 [9 October 2007]

Recall judgment — BEN NEVIS FORESTRY VENTURES LIMITED & ORS v COMMISSIONER OF INLAND REVENUE SC 43/2007 [13 May 2009 (PDF 16 KB)

Supreme court decision — BEN NEVIS FORESTRY VENTURES LIMITED AND ORS and ANOTHER v COMMISSIONER OF INLAND REVENUE SC43/2007 and SC 44/2007 [19 February 2008] (PDF 26 KB)

Substantive judgment — BEN NEVIS FORESTRY VENTURES LTD AND ORS v COMMISSIONER OF INLAND REVENUE SC 43/2007 [19 December 2008] (PDF 306 KB)

Additional Information

Substantive judgment /Media release

BEN NEVIS FORESTRY VENTURES LTD AND ORS v COMMISSIONER OF INLAND REVENUE SC 43/2007 [19 December 2008]

Transcript

Hearing date : 8 February 2008

Hearing date : 8 – 10 July 2008
Elias CJ, Blanchard, Tipping, McGrath , Anderson JJ

Hearing date : 23 - 27 June 2008

Judgment appealed from

ACCENT MANAGEMENT LIMITED AND ORS V COMMISSIONER OF INLAND REVENUE CA CA21/05 11 June 2007