Land was development land for capital gains tax purposes

Taxes Consolidation Act, 1997 – case stated – determination of Appeal Commissioner – income tax return – amended assessment to capital gains tax – disclosure of sale of a site – whether the sale price was the current use value of the site or was the price obtained for development land – whether land is development land for CGT purpose – compare sale proceeds and current use value – the Commissioner determined that the property constituted development land – commissioner determining the primary question of fact – can only be set aside if no evidence to support it – on review of the transcript of the hearing, court is satisfied there was ample evidence to make the determination it did – submission that expert valuation report and evidence ought to be excluded is well founded – clearly set out limitations of investigation – Commissioner dealt fairly with the omissions and errors pointed out in the report – relevant adjustments made – Commissioner was correct in law in determination that the sale of the property constituted a sale of development land – appellant was not entitled to rely on the additional ground of appeal –Commissioner sufficiently addressed the legal issues raised and provided adequate reasons in determining the legal arguments made thereto – correct in holding that the appellant did not made a true and full disclosure in tax returns.