Re Nelson Car Hire Ltd
| Jurisdiction | Ireland |
| Judgment Date | 01 January 1973 |
| Date | 01 January 1973 |
| Court | High Court |
Application to have dissolution declared void - Company not assessed for income tax - Revenue Commissioners claiming isolated transaction an adventure in the way of trade - Whether commissioners a person interested - Companies Act, 1963 (No. 33), s. 310.
Section 310 of the Companies Act, 1963, provides that, within two years from the date of dissolution of a company, the court may make an order declaring the dissolution to have been void if an application in that behalf is made by the liquidator of the company or "by any other person who appears to the court to be interested". A private company acquired certain lands in March, 1965, and in the same month the company, in consideration of £50,000, granted a licence to a director-shareholder enabling him to enter upon the lands and build houses; the company agreed to grant leases to purchasers of the houses at a yearly rent of £10. Outline planning permission was obtained by the licensee in April, 1965. In August, 1965, the company sold the lands, subject to the licence, for £6,000. The company was dissolved in September, 1967,without having been assessed for income tax or corporation profits tax. The company's accountants maintained that the lands had been acquired as an investment and that it was acquired as agricultural land without planning permission; that the land was not acquired as...
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Re Walsh Maguire & O'Shea Ltd
...justice requires that he bear the costs of this application. That was the approach adopted by Kenny J. in In re Nelson Car Hire Ltd. (1973) 107 ILTR 97, in circumstances where the Revenue Commissioners sought an order under s. 310. Kenny J. stated (at p. 102): "The costs of this application......
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Re Supatone (Eire) Ltd
...income tax would succeed on the basis that the company had engaged in an adventure in the way of trade - In re Nelson Car Hire Ltd.DLTR 107 ILTR. 97 considered. ...