Commissioner of Taxation v Linter Textiles Australia Ltd (in liq)

HIGH COURT OF AUSTRALIAGLEESON CJ,McHUGH, GUMMOW, KIRBY, HAYNE, CALLINAN AND HEYDON JJCOMMISSIONER OF TAXATION  APPELLANTANDLINTER TEXTILES AUSTRALIA LTD (IN LIQUIDATION)             RESPONDENTCommissioner of Taxation v Linter Textiles Australia Ltd (In Liquidation)[2005] HCA 2026 April 2005S606/2003ORDER1.Leave to amend notice of appeal granted and amended notice of appeal treated as filed and served.  2.Appeal allowed. 3.Set aside the orders of the Full Court of the Federal Court of Australia made on 14 April 2003 and in their place order: (a)appeal allowed with costs; (b)set aside the orders of Hely J made on 6 September 2002 and in their place order:(i)objection decision dated 9 February 2001 affirmed;(ii)applicant to pay the costs of the proceedings before Hely J. 4.Appellant to pay the respondent's costs of and incidental to the proceedings in this Court. On appeal from the Federal Court of AustraliaRepresentation:M R Aldridge SC with S J McMillan and N Perram for the appellant (instructed by Australian Government Solicitor) at the hearing on 3 August 2004A Robertson SC with M R Aldridge SC and S J McMillan for the appellant (instructed by Australian Government Solicitor) at the hearing on 9 December 2004D H Bloom QC with J Davies SC and S H Steward for the respondent (instructed by Phillips Fox)Notice:  This copy of the Court's Reasons for Judgment is subject to formal revision prior to publication in the Commonwealth Law Reports.CATCHWORDSCommissioner of Taxation v Linter Textiles Australia Ltd (In Liquidation)Income tax – Allowable deductions – Loss carry forward provisions – Losses incurred by taxpayer company...