Primarosa Flowers Limited

(a) Whether there existed sales variances between the actual auction sales and sales declared by the Appellant;

(b)Whether interest expense that relates to the borrowings should be restricted proportional to interest free advances to related party and interest-bearing borrowings;

(c) Whether foreign exchange losses incurred through conversion of debt to equity is allowable;

(d) Whether withholding tax is chargeable on deemed interest in respect to interest free advances;

(e) Whether unreconciled sales between VAT3 returns and sales as per audited accounts are chargeable to VAT.

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Ocean Sports (2006) Limited

The Tribunal has studied both parties

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Nyeri Water and Sewerage Company

When this Appeal was first called out at 9.15 a.m. this morning during the call over the
Appellant did not appear, the Respondent appeared with a large team ready to proceed for
hearing, directions. Were given at that point that the Appeal would proceed later. It is now
12.47 p.m. the Appeal having been called out and there is still no appearance for the
Appellant.

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Nakumatt Holdings Limited

Whether the services offered by Cybercash Limited to the
Appellant are in the nature of management services for which
the Appellant should have remitted withholding tax.
Whether interest expenses incurred by the appellant can be restricted in proportion to the appellants loan advances to related parties including Cybercash Ltd over total bank loans for income tax purposes

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Mocian Limited

a) Whether the net income derived from the sale of the office
suites by The Appellant is capital gains for purposes of
corporation tax or;
b) Whether the net income from the sale of the office suites were
derived from a venture in the nature of trade and thus
chargeable to corporation tax and if so;
c) Whether part of the interest on those borrowings should be
restricted and disallowed for corporation tax purposes to the
extent of the office suites transferred to a sister concern.

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