Chamber of Manufacturers Insurance Ltd v The Commissioner of Taxation of the Commonwealth of Australia [1984] FCA 119

Deven eee em Re ee

A mee me

lo & : 2 co > ORIGINAL .

CATCHWORDS

Income tax (Commonwealth) - profits on sale of investments by

taxpayer carrying on an insurance business - assessable income - §.25(1) Income Tax Assessment Act 1936 - s.17¥ Income Tex Assessment Act 1936 - amendment of assessment -

full and true discicsure.

Income Tax Assessment Act 1936 ss.25, 26(a), 25AAA, 170

The Chamber of Manufacturers Insurance Lti. v. The Commissioner ot Taxation of the Comronvealth of Australia

V. No. G.277 of 1983

Bowen C.d., Woodward and Northrop Jd. 10 May 1984

Melbourne

ce on a eane Pe

toe eee

Re ee en a oy

ted evar Nive nea tate Otel tain Leen A RNAi ne Re Lem ee ew oe de

Aeavtrcrle-

Rhee BAL

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY V. No. G.277 of 1983

Ne ee

GENERAL DIVISION

ON_ APPEAL FROM THE SUPREME COURT OF VICTORIA

BETWEEN : THE CHAMBER OF MANUFACTURERS INSURANCE LTD. Appellant and THE COMMISSIONER GF TAXATION OF THE COMMONWEALTH OF AUSTRALIA Respondent COURT: Bowen C.d., Woodward and Northrop Jd. DATE: 10 May 1984 PLACE: Melbourne ORDER

THE COURT ORDERS THAT:

1. The appeal be allowed.

2. The orders of the Supreme Court of Victoria be set aside.

ba hebne, Co wuke aabewideh colt tle vaesceenA aLiekan! agente ete hI SON el NO aA ON ml dd A EP A et NM EN hd Ma er

The matter be remitted to the Commissioner of Taxation of the Commonwealth of Australia for assessment according to

law.

There be no order as to costs of the appeal or the

proceedings in the Supreme Court of Victoria.