Special Commissioners of Income Tax v Linsleys (Established 1894), Ltd (In Liquidation): HL 23 Jan 1958

Surtax – Profits Tax – Company under control of not more than five persons-No estate or trading income-Income receipts less than deduction for Profits Tax in computing actual income from all sources – Whether Profits Tax payable ‘ – Whether Surtax direction mandatory so as to found Profits Tax exemption – Finance Act, 1947 (10 cS; 11 Geo. VI, c. 35), Section 31 (3) ; Income Tax Act, 1952 (15 and 16 Geo. VI and 1 Eliz. II, c. 10), Sections 245 and 262 ; Finance Act, 1952 (15 and 16 Geo. VI and 1 Eliz. II. c. 33), Section 68.
[1958] UKHL TC – 37 – 677, 37 TC 677
Bailii
England and Wales

Updated: 04 February 2021; Ref: scu.559979