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Court of Appeal: Peram Ranum Berhad v Ketua Pengarah Hasil Dalam Negeri
Issue: Whether the uplifting of fixed deposits upon maturity can be considered as a realization of investment for the purposes of subparagraph 60(3)(b)(ii) of the Income Tax Act 1967.

Decision: The Court of Appeal dismissed the tax payer’s appeal. The uplifting of fixed deposits cannot be regarded as a realization of investment. The fixed deposit itself is not an investment.

Status: No grounds of judgment are provided by the Court of Appeal. No right of further appeal.
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Source : IRB website
Date of  Publication : Thursday, 05 April 2012
Original Title : Peram Ranum Berhad v Ketua Pengarah Hasil Dalam Negeri
Suit No : Civil Appeal No. W-01-91-08
Court : Court of Appeal
Tags : Revenue Law, Interpretation, Subparagraph 60(3)(b)(ii) of the Income Tax Act 1967
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