Robert Addie and Sons v Solicitor of Inland Revenue: 1875

When computing profits for tax purposes, the taxpayer is not allowed to deduct any sums for depreciation of capital assets. Lord Deas: ‘I think it is better not to run the risk of making any confusion in the grounds of judgment by adding anything to what your Lordship has said.’
Lord Deas
(1875) 2 R 431
England and Wales
Cited by:
CitedRevenue and Customs v William Grant and Sons Distillers Ltd HL 28-Mar-2007
The Revenue appealed findings as to the calculation of profits for corporation tax. The companies had sought to deduct sums from profits for depreciation of unsold stock in accordance with current accounting standards.
Held: ‘the profit and . .

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Updated: 16 May 2021; Ref: scu.251451