Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

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COMMISSIONER OF INLAND REVENUE v. FOUR SEAS COMPANY, LTD.

[1961] 2 Lloyd's Rep. 321

JUDICIAL COMMITTEE OFTHE PRIVY COUNCIL

Before Lord Denning, Lord Devlin and Mr. L. M. D. de Silva

Revenue - Profits tax (Hongkong) - Partnership assessed to profits tax - Whether corporation (a partner) entitled to set off its trading losses as a corporation against its profits as a partner-Inland Revenue Ordinance of Hongkong (cap. 112 of Revised Edition, 1950, as amended in 1956 Reprint).

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