A company filed a case against the commission of tax appeals before the court. The company requested the court to dismiss the decision of the commission by which they had been ordered to pay an amount of money in tax. The company said that the tax had been incurred for unrealized profits.

The court dismissed the case.

The company appealed the ruling before the court of appeal. The court upheld the appealed ruling.

The company appealed the ruling before the court of cassation. The company said in its grounds of appeal that the ruling had erred in the application of law. The company said that only net profit should be taxed. The company said that the profits generated as a result of a re-evaluation of the company according Accounting standard No. 39 should not be taxed.