Covenant expenses not deductable
Covenant expenses not deductable
- 1998
- Times 1 December 1998, 22(1) .
"Garner v Pounds Shipowners & Shipbreakers Ltd" CA 25 November 1998. Expenditure incurred by land owners in securing release of restrictive covenants is not deductable from the amount of consideration paid to them in return for granting an option to purchase.
CHARGEABLE GAIN
DEVELOPMENT LAND
GARNER V POUNDS SHIPOWNERS AND SHIPBREAKERS LTD
OPTION TO PURCHASE
RESTRICTIVE COVENANT
"Garner v Pounds Shipowners & Shipbreakers Ltd" CA 25 November 1998. Expenditure incurred by land owners in securing release of restrictive covenants is not deductable from the amount of consideration paid to them in return for granting an option to purchase.
CHARGEABLE GAIN
DEVELOPMENT LAND
GARNER V POUNDS SHIPOWNERS AND SHIPBREAKERS LTD
OPTION TO PURCHASE
RESTRICTIVE COVENANT