In re Taxes Hawaiian Commercial & Sugar Co.

*709OPINION OP THE COURT BY

PETERS, C. J.

Tbis is an appeal by tbe tax assessor of tbe second taxation division (County of Maui) from tbe judgment of tbe tax appeal court of that division bolding that tbe aggregate value of tbe combined property forming tbe basis of an enterprise for profit conducted by tbe taxpayer on January 1, 1921, was $14,000,000. Tbe taxpayer in tbe first instance returned its property at $11,000,000. Tbe tax assessor assessed tbe property at $16,900,000. Tbe taxpayer appealed to tbe tax appeal court from all sums in excess of $14,000,000.

Tbe parties by stipulation before tbe…