Commissioner of Income Tax for Nyasaland v Bandanga Limited (Civil Appeal No. 6 of 1939)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
A company that carried on no trade or business during the year of assessment 1938-39 was not liable to income tax for that year, notwithstanding that the Ordinance provided for tax to be calculated on the basis of the previous year's profits. If the company had been liable, the tax would have been recoverable from the liquidator as a contingent liability under section 206 of the Companies Consolidation Act 1908.
Outcome
Appeal dismissed. Company not liable to income tax for year of assessment 1938-39.
Facts
Bandanga Limited was registered in Nyasaland in 1908 and carried on business as tea growers until 30 September 1937, when it sold all its business, property and assets to a company of the same name registered in England. The new company, consisting substantially of the same shareholders, carried on the business with the old company's assets. On 28 February 1938, the appellant company went into voluntary liquidation and appointed a liquidator. The company had been assessed for and paid income tax for the years 1925-26 to 1937-38. For the year 1937-38, the company paid £518-5-0 income tax. On 23 July 1938, the Commissioner sent a demand notice for £600 income tax for the year 1938-39 based on the company's income for the year ending 30 September 1937. The company appealed, contending it was not liable as it carried on no trade and had no income during the year of assessment 1938-39.
Issues
- Whether a company which carries on no business and has no income during a year of assessment is liable to income tax for that year.
- Whether income tax for the year of assessment 1938-39 can be recovered from the liquidator of a company in voluntary liquidation.
Orders
- Appeal dismissed with costs.
- Costs in the High Court to be fixed by the trial Judge in accordance with section 43(8) of the Ordinance.
Rules and key headnotes
Legislation cited (8)
- Nyasaland Income Tax Ordinance Chapter 49 s.5
- Nyasaland Income Tax Ordinance Chapter 49 s.6
- Nyasaland Income Tax Ordinance Chapter 49 s.7
- Nyasaland Income Tax Ordinance s.33
- Nyasaland Income Tax Ordinance s.43(8)
- Nyasaland Income Tax Ordinance s.43(9)
- Companies Consolidation Act 1908 s.206
- Companies Consolidation Act 1929 s.261
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.