Hawaiian Commercial & Sugar Co. v. Tax Assessor & Collector

OPINION OF THE COURT BY

GALBRAITH, J.

This is an appeal by the Tax Assessor of the 1st Taxation Division of the Territory from the decision of the Tax Appeal Court sustaining the contention of the Hawaiian Commercial and Sugar Company, Limited, a corporation, in making certain deductions from' its gross income as “losses” incurred in business under the Territorial Income Tax law, Act 20, Session Laws, 1901, for the year preceding July 1st, 1902.

The return having been prepared in the principal office of the company at San Francisco, California, shows a gross income for the period of…