The Argus Law Reports Volume 7 by Anonymous - Bookswagon
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The Argus Law Reports Volume 7

The Argus Law Reports Volume 7


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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1901 edition. Excerpt: ...to the place where it is made payable? Box.-Yes, we deny that. Box.--The Company being resident in Victoria, it is immaterial where it borrows the money. The contract made by the Company is to find the money for the interest. It does not matter where the money comes from which the Company pays to the taxpayer. Mr'rcnsr.1..--We agree that the interest is to be treated as the produce of the debt. The question is-- Is the debt property within Victoria?" It is for the Commissioner to show that it is property in Victoria. If the debt has no locality, the law fixes no locality to it. Except for probate purposes, a debt has no local existence---Smelting Company of Australia v. Commissioner of Inland Revenue (1897), 1 Q.B. 175; Commissioner of Stumps v. Hope (1891), A.C.-176. There is no English decision which lays down what is the locality of a debt apart from probate matters. It is not material where the profits of the Company come from. It is a question vhere the debt arises. The interest does not come out of the assets, but out of the debt. Box in reply. Masons, C.J., read the following judgment: -This is a special case for the opinion of the Court stated by the Commissioner of Taxes under sec. 17 of the Income Tax Act 1896." The alleged taxpayer had been a principal partner in a firm, and owned the greater part of its capital. A Joint Stock Company was formed to acquire the business oi this firm, which it did in fact acquire. The alleged taxpayer agreed that he would leave, and in fact left, in the said Company a certain sum oi money due by it to him as such member of such firm. In other words, he lent that sum to the Company, and received as security interminable debentures of 100 each, bearing interest...


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Product Details
  • ISBN-13: 9781234276935
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 388
  • Spine Width: 20 mm
  • Width: 189 mm
  • ISBN-10: 1234276933
  • Publisher Date: 16 Jan 2013
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 689 gr


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