Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

COMMISSIONERS OF INLAND REVENUE v. THOMPSON & CO.

(1928) 29 Ll.L.Rep. 339

KING'S BENCH DIVISION.

Before Mr. Justice Rowlatt.

(1) Revenue-Excess Profits Duty-Assessment -Hire of ships-Sum payable for depreciation calculated on profits, a minimum sum being payable in any event-Computation of profits-Deductions -Finance (No. 2) Act, 1915, Schedule, Part I, Rule 2. (2) Revenue-Excess Profits Duty-Assessment -Shipowning company-Coal contracts -Assignment of right to take delivery-Whether trading profit.

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