BOLSON & SON, LTD. v. FARRELLY (H.M. INSPECTOR OF TAXES).
[1953] 1 Lloyd's Rep. 258
COURT OF APPEAL.
Before Sir Raymond Evershed (Master of the Rolls), Lord Justice Jenkins and Lord Justice Hodson.
Revenue - Income tax - Assessment - Dealings in ships - Company carrying on passenger carrying and shipyard businesses - Separate businesses - Profits made on purchase and sale of ships used for passenger carrying purposes - Characteristics of transactions.