Decision No
 

PENALTY TAX -
 

omission of part of salaries and also gain on exercise of share options from tax return - whether no intention to evade tax or ignorance of law amounts to a reasonable excuse - whether 21.04% penalty excessive in the circumstances - Inland Revenue Ordinance s 82A
 

incorrect salaries tax return - putting down '§Ñ°O' as the 'Total' income - whether reasonable excuse - s 82A(1)(a) of the Inland Revenue Ordinance
 

omission in tax return - reasonable excuse - mitigation factors - burden of proof - whether liable for additional tax - ss 82(1) and 82A of the Inland Revenue Ordinance
 

late filing of tax return - submission of parties - reasonable excuse - automatic block extension - Departmental Code - ss 18D, 51(1), 80(2)(d) and 82A(1) and (4) of the Inland Revenue Ordinance
 

profits arising from sale of property - investment or trade - Inland Revenue Ordinance s 68(4)
 

sale of land - whether the land was acquired as a capital asset - intention at the time of acquisition - burden of proof - Inland Revenue Ordinance s 68(4)
 

sale and purchase of shares - whether loss in one year can be available as a set off against profits for future years - whether a trade or business - Inland Revenue Ordinance s 19C
 

sale of property - whether profits derived from the sale of a property assessable to profits tax - intention at the time of acquisition
 

sale of property - whether profits derived from the sale of the property assessable to profits tax - whether loss can be set-off - intention at the time of purchase - inference from long list of property transactions - whether short period of ownership indicative of an intention to trade
 

whether profits realized from sale of property is merely a capital gain or liable to profits tax assessment - whether assessment excessive or otherwise incorrect
 

appeal against the Commissioner's determination - late - ss 51(8), 66(1) and (1A) of the Inland Revenue Ordinance
 

taxability of the profits arising from the disposal of property
 

real property - intention to trade - onus of proof - whether the profits arising from the dispositions of three flats were liable for profits tax - ss 2 and 68(4) of the Inland Revenue Ordinance
 

real property - intention of taxpayer at the time of purchase - 'genuinely held, realistic and realisable' - whether the profit arising from the disposition of a property was liable for profits tax
 

housing benefit - rental value calculation - whether gratuity should be totally excluded from the rental value calculation - whether gratuity can be restricted to a period in computing rental value - whether rental value can be aggregated - ss 9(1)(c) and 9(2) of the Inland Revenue Ordinance
 

contract for service or contract of service - expenditure deductible - delay in giving notice of appeal - ss 8, 12(1)(a), 14, 66(1A) amd 66(2) of the Inland Revenue Ordinance