Appeal by the subject from the Special Commissioners against assessments to income tax under Case I of Schedule D; and the question of law on which we have so far heard argument is ‘whether there was evidence on which we were entitled to find that the sales effected by the company were made in the course of a trade carried on by it.’ The rival contention presented by the appellants was that the company had merely realised fixed capital assets and was therefore immune from taxation on the ‘profits.’
Citations:
[1954] ScotCS CSIH – 3, (1954) 33 ATC 151, 47 R and IT 127, 1954 SLT 97, 1954 SC 266, 35 TC 196
Links:
Jurisdiction:
Scotland
Income Tax
Updated: 22 July 2022; Ref: scu.279428