In November 1911, A, a trustee on the estate of the late B, raised an action against the representatives of the late C, to recover from them an asset of B’s trust estate, which owing to the negligence of C had not been ingathered. Decree was given for payment with interest at 3 1 2 per cent. since the date at which the sum should have been ingathered. Held that the interest was assessable for income tax when paid to A.
Citations:
[1915] SLR 156
Links:
Jurisdiction:
Scotland
Income Tax
Updated: 23 April 2022; Ref: scu.618252