Banning v Wright: HL 14 Jun 1972

HL Income tax, Schedule D – Excess rents – Case V III rents – Sublease rents – Subletting in breach of covenants in head lease – Payments to head lessor in consideration of subsequent consent – Whether paid as consideration for variation or waiver of lease terms – Income Tax Act 1952 (15 6 16 Geo. 6 and 1 Eliz. 2, c.10), s.1 7 5 ; Finance Act 1963 (c.25), 5.20(6) and 22(4) and Sch. 4, paras. 8 and 9.

Citations:

[1972] UKHL TC – 48 – 421, 48 TC 421, [1972] TR 10, [1972] 2 All ER 987, [1972] 1 WLR 972

Links:

Bailii

Jurisdiction:

England and Wales

Income Tax

Updated: 18 June 2022; Ref: scu.559823