Federal Court of Australia
A42-03
CATCHWORDS
Taxation —- Income Tax - Exchange loss by trading company
Whether deductible.
Income Tax Assessment Act 1936, sub-s.51(1)
Franki, Fisher and Lockhart JJ. 23 September 1983
Sydney
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PPM PUI RIE IT lo ee ELE Tt ea ae
IN THE FEDERAL COURT OF AUSTRALIA }
NEW SOUTH WALES DISTRICT REGISTRY ) No. G.174 of 1982
GENERAL DIVISION )
ON APPEAL FROM THE SUPREME COURT OF NEW SOUTH WALES ADMINISTRATIVE LAW DIVISION
THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA
Appellant
HUNTER DOUGLAS LIMITED
Respondent ORDER JUDGES MAKING ORDER: Franki, Fisher and Lockhart JJ. DATE OF ORDER: 23 September 1983 WHERE MADE: Sydney THE COURT ORDERS THAT: 1. The appeal is upheld. 2. The orders of the Supreme Court of New South Wales in
Matters No. 668 and 669 of 1981 are set aside.
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yess
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The assessments to income tax of Hunter Douglas Limited for
the years ended 30 June 1977 and 30 June 1978 are confirmed.
Hunter Douglas Limited pay the costs of the Commissioner of
Taxation of the Commonwealth of Australia of this appeal and
of the proceedings in the Supreme Court of New South Wales.
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IN THE PenePAL couURT OF AUSTRALTA }
G.174 of 1982
FROM THE SUPREME
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CeunT or NEW SOUTH §aLes
ADMINISTRATIVE LAN DIVISION
THE COMMONWEALTH O
SSIONER OF TAXATION 07 je AUSTRALIA
Appellant
HUNTS? DOUCLAS LIMITED
NEN SOUTH HALES DISTRICT REGISTFY } No. GEVERAL DIVISTSN } ON APPEAL THE COMMI , OPAM; Franti, Fisher ard Lockharc Jd.
REASONS FOR JUDGMENT
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