Revenue – Income Tax – 5 and 6 Vict. c. 35, secs. 60 and 100, Schedule D
Held ( aff. judgment of Court of Session) that in determining the amount of profit for any year upon which a mine-owner is to be assessed, he is not entitled to write off and deduct from the gross earnings of his mine a sum to represent the amount of capital expended on making bores and new pits that has been exhausted during the year.
Judges:
Earl Cairns, Lord Penzance, and Lord Blackburn
Citations:
[1881] UKHL 466 – 1, 18 SLR 466 – 1
Links:
Jurisdiction:
Scotland
Income Tax
Updated: 30 June 2022; Ref: scu.636793