Casimaty, George v Commissioner of Taxation [1997] FCA 1388

FEDERAL COURT OF AUSTRALIA INCOME TAX - Assessable income - Sales of subdivided land originally acquired and used for farming - whether proceeds derived from carrying on of a business or represented the mere realization of a capital asset Income Tax Assessment Act 1936 (Cth), ss 25(1), 25A(1) Californian Copper Syndicate (Limited and Reduced) v Harris (1905) 5 TC 159, referred to Hudson's Bay Co v Stevens (1909) 5 TC 424, referred to Commissioner of Taxes v Melbourne Trust Limited[1914] AC 1001, distinguished C.H. Rand v The Alberni Land Co Ltd (1920) 7 TC 629, applied Ruhamah Property Co Ltd v Federal Commissioner of Taxation (1928) 41 CLR 148, referred to Scottish Australian Mining Co Ltd v Federal Commissioner of Taxation (1950) 81 CLR 188, applied Official Receiver v. Federal Commissioner of Taxation (Fox's Case) (1956) 96 CLR 370, distinguished McClelland v Federal Commissioner of Taxation (1970) 120 CLR 487, applied Federal Commissioner of Taxation v Whitfords Beach Pty Ltd (1982) 150 CLR 355, distinguished Crow v Federal Commissioner of Taxation (1988) 19 ATR 1565, distinguished Roberts v Federal Commissioner of Taxation [1981] ATC 4,421, applied Stevenson v Commissioner of Taxation (1991) 29 FCR 282, distinguished Federal Commissioner of Taxation v Williams (1972) 127 CLR 226, applied Steele v Federal Commissioner of Taxation (1997) 97 ATC 4,239, referred to GEORGE CASIMATY v COMMISSIONER OF TAXATION TG 3, 4, 5, 6 and 7 of 1995 RYAN J MELBOURNE (HEARD IN HOBART) 10 DECEMBER 1997

IN THE FEDERAL COURT OF AUSTRALIA

TASMANIA DISTRICT REGISTRY TG 3 of 1995

BETWEEN: GEORGE CASIMATY

Applicant

AND: COMMISSIONER OF TAXATION

Respondent

JUDGE: RYAN J

DATE OF ORDER: 10 december 1997

WHERE MADE: MELBOURNE (heard in hobart)