Guernsey Judgment 35/2005 - Administrator of Income Tax v Cachemar Limited

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Income Tax (Guernsey) Law, 1975 - investment company - Tax Tribunal held the company was entitled to deduct a 'management fee' as 'permissible management expenses' - Administrator's appeal by way of case stated - approach taken by the Tribunal - 'permissible management expenses' to be given a fairly wide meaning - Administrator's appeal dismissed.