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Commissioner of Income Tax v. Lerematesho Ltd

(1976) JELR 103109 (CA)

Court of Appeal  •  Civil Appeal 7 of 1976  •  31 May 1976  •  Kenya

Coram
Abdulla Mustafa, Justin Saulo Musoke, Samuel William Wako Wambuzi

Judgement

IN THE COURT OF APPEAL FOR EAST AFRICA

AT NAIROBI

(Coram: Wambuzi P, Mustafa and Musoke JJ A)

(CIVIL APPEAL NO 7 OF 1976

COMMISSIONER OF INCOME TAX ..........APPELLANT

VERSUS

LEREMATESHO LTD............................RESPONDENT

JUDGMENT

This is an appeal by the Commissioner of Income Tax against the decision of the High Court of Kenya in an assessment of income tax raised against the taxpayer company in respect of the year of income 1971. The taxpayer is a limited liability company incorporated in 1957 for the purpose of purchasing and carrying on the business previously carried on by Colvile and Lady Delamere. It is the commissioner’s case that in 1971 the taxpayer in course of business purchased and resold shares and stocks from various companies and made a profit of £6341 and was accordingly assessed to income tax on that amount. In his statement of facts the commissioner referred to the following two clauses in the memorandum of association of the taxpayer company stating some of the obj…

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