Ratio DecidendiRatio Decidendi



INTERNAL REVENUE SERVICE
V.
MULTICHOICE (GH) LTD

(2004) JELR 65699 (CA)    
Court of Appeal  ·  16 Feb 2004 ·  Ghana
CORAM
OSEI JA, TWUMASI JA, OMARI-SASU JA

Ratio Decidendi

Core Terms Beta
income
respondent
television business
money
counsel
interest income
bank account
expenses
source of income
sources of income
learned trial judge
statement of case
banking account
income of any person
proper interpretation of sections
commercial bank
company’s expenses
separate sources of income
tax liability
actual fact
additional high court judge
crucial portion of section
defendant-appellant
financial benefit
full amount of income
ground of appeal raises
ie sections
income tax decree
instant case
list of the sources of income
loss account of the respondent
major ground of appeal
national currency
natural resources
oxford dictionary of current english
pay television
period of time
plaintiff-respondent
proper interpretation of section
prudent business practice
relevant period
relevant provisions of the applicable law
separate source of income
statement
submission of counsel
such trade
television company
undisputed facts of this appeal
way of interest

JUGDEMENT

OSEI JA

The undisputed facts of this appeal are that: Multichoice (Gh) Ltd, the plaintiff-respondent (hereinafter referred to as the respondent) is a television company operating in Ghana. It serves its customers in return for their subscriptions which subscriptions the company saves in a banking account and, as expected earns interest income thereon. From the year 1994 to 1999, the respondent without dispute, incurred losses from its television business as such but made substantial gains from its banking account by way of interest. The respondent then sought to set off its losses incurred from its television business as such against the interest income earned from the banking account. The defendant-appellant (hereinafter referred to simply as the appellant) disallowed that move as illegal and insisted that the income derived from the television business and the interest accruing to the bank account should be taxed separately as being two separate sources of income. When the …

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