Decision No
 

PENALTY TAX -
 

late filing of tax return - penalty imposed - taxpayer again late in filing tax return - quantum of penalty - s 82A of the Inland Revenue Ordinance
 

late filing of return - return filed without audited accounts - quantum of penalty
 

delay in filing tax return - previously habitual late filing - quantum of penalty - s 82A of the Inland Revenue Ordinance
 

management accounts filed in lieu of audited accounts and then followed by return with audited accounts - penalty of 6% - whether excessive - s 82A of the Inland Revenue Ordinance
 

late filing of return - quantum of penalty - s 82A of the Inland Revenue Ordinance
 

sole proprietor of business - incorrect tax return - substantial understatement of profits - quantum of penalties - s 82A of the Inland Revenue Ordinance
 

appeal without merit - order for costs - s 68(9) of the Inland Revenue Ordinance
 

whether individual taxpayer carrying on a trade or business - deductibility of losses suffered in hang seng index futures, forex and bullion
 

deductibility of severance payment against profits when business closed
 

purchase and sale of property - whether capital gain or a transaction amounting to an adventure in the nature of trade
 

purchase and sale of property - whether capital gain or profit on trading transaction
 

termination of employment - date when emoluments accrue
 

overseas employee working in Hong Kong - whether hotel accommodation and local living allowances subject to be assessed to salaries tax
 

notice of appeal lodged out of time - whether extension of time should be granted - s 66(1A) of the Inland Revenue Ordinance
 

whether payment made to a United Kingdom Pension Fund is subject to Hong Kong salaries tax and whether the same can be deducted as an expense
 

share option scheme - date of exercise of option - value of option