Decision No
 

PENALTY TAX -
 

incorrect salaries tax return - failure to disclose certain income chargeable to tax - deliberate - whether a reasonable excuse existed under s 82A of the Inland Revenue Ordinance - demeanour of the taxpayer - 10.21% penalty under s 82A of the Inland Revenue Ordinance
 

income from old employer omitted - whether reasonable excuse - s 82A of the Inland Revenue Ordinance
 

late filing of profits tax return - costs - ss 51, 68(9) and 82A of the Inland Revenue Ordinance
 

profit arising from sale of property - lived there for less than 10 days - whether acquired for own use as residence
 

deductible expenses - management fees paid to service company - ss 14, 16 and 61 of the Inland Revenue Ordinance
 

whether profits derived from the sale of shares assessable to profits tax - s 68(4) of the Inland Revenue Ordinance
 

sales proceeds from sale and purchase of property - whether the sale of the property amounted to trade
 

delay in submitting profits tax return - compound penalty - mitigating and aggravating factors - whether additional tax excessive - s 82A of the Inland Revenue Ordinance
 

business relocation - property transferred for redevelopment - whether capital receipt or trading revenue
 

whether profits from the sale of a property assessable to profits tax - s 68(4) of the Inland Revenue Ordinance
 

s 14 of the Inland Revenue Ordinance - whether carrying on a trade or business - subject matter of trade or business - whether the transactions are pure speculation - presence or absence of a business registration certificate - whether office and staff and organisation exist - whether loss can be set-off
 

additional tax - procedure of assessing additional tax provided for by statute - instruction of taxing statutes - whether provisions directory or mandatory - whether any prejudice caused by irregularity in procedure - whether non-compliance nullify assessment - ss 82A(3) and 82A(4) of the Inland Revenue Ordinance - service of notice - shifting of burden - s 58(4) of the Inland Revenue Ordinance - rationale of tax undercharged as basis for assessment of additional tax
 

acquisition and sale of property - intention of purchaser at time of acquisition - burden of proof on purchaser - whether tax chargeable on the profits of sale
 

assessable tax - sales proceeds from sale and purchase of property - capital gain - whether the sale of the property amounted to trade - s 2 and s 68(4) of the Inland Revenue Ordinance, Chapter 112
 

allowable deductions - whether taxpayer entitled to deduct the sum of investments in ascertaining profits - ss 16(1)(d) and 17(1)(c) of the Inland Revenue Ordinance
 

acquisition and sale of properties - intention of purchaser at time of acquisition - burden of proof on purchaser - whether tax chargeable on the profits of sale - burden on taxpayer to establish that assessment was incorrect
 

employment - place of service - source of income - 60 days limit - whether liable to salaries tax - s 8 of the Inland Revenue Ordinance
 

whether additional chargeable income a loan from former employer - whether assessment excessive or incorrect - s 68(4) of the Inland Revenue Ordinance
 

employment - source of income - ss 8(1), 8(1A) and 8(1B) of the Inland Revenue Ordinance
 

employment - place of service - 60 days limit - whether liable to salaries tax