Antlers Pty Ltd (In Liq) v Commissioner of Taxation [1997] FCA 114

IN THE FEDERAL COURT OF AUSTRALIA) ) NEW SOUTH WALES DISTRICT REGISTRY) No. G640 of 1995 ) G641 of 1995 GENERAL DIVISION )

BETWEEN: ANTLERS PTY LIMITED (IN LIQUIDATION)

Applicant

AND: COMMISSIONER OF TAXATION

Respondent

JUDGE MAKING ORDER:LOCKHART J. DATE ORDER MADE: 28 FEBRUARY 1997 PLACE ORDER MADE: SYDNEY

MINUTE OF ORDER THE COURT ORDERS THAT:

1. The appeals be dismissed. 2. The respondent's objection decisions be confirmed. 3. The applicant pay the respondent's costs of the appeals including reserved costs, if any.

NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

CATCHWORDS

INCOME TAX - ascertainment of assessable income - sales of property acquired for resale and profit-making schemes - whether taxpayer acquired land for the purpose of profit-making by sale

Income Tax Assessment Act 1936: ss 25(1), 25A

Australasian Catholic Assurance Co Ltd v Commissioner of Taxation (1959) 100 CLR 502 Commissioner of Taxation v Bidencope (1978) 140 CLR 533 Commissioner of Taxation v Myer Emporium Ltd (1987) 163 CLR 199 Commissioner of Taxation v St Hubert's Island (1978) 138 CLR 210 Commissioner of Taxation v Whitfords Beach Pty Ltd (1982) 150 CLR 355 Henry Jones (IXL) Ltd v Federal Commissioner of Taxation (1991) 31 FCR 64 Investment and Merchant Finance Corporation Limited v Commissioner of Taxation (1971) 125 CLR 249 McAusland v Commissioner of Taxation (1994) 47 FCR 369 Moana Sand Pty Limited v Federal Commissioner of Taxation (1988) 88 ATC 4897 Ruhamah Property Co Ltd v Federal Commissioner of Taxation (1928) 41 CLR 148 Steinberg v Federal Commissioner of Taxation (1975) 134 CLR 640 Warriewood Valley Pty Ltd v Federal Commissioner of Taxation (1993) 93 ATC 4653 Westfield Limited v Federal Commissioner of Taxation (1991) 28 FCR 333

ANTLERS PTY LTD (IN LIQUIDATION) v COMMISSIONER OF TAXATION NG 640 of 1995 NG 641 of 1995