NO. 557.–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION).–

26TH FEBRUARY, 1926.

Income Tax, Schedule D, Case VI – ‘Annual profits or gains’ – Casual profit – Underwriting commission.

  

  In October, 1919, the Appellant, who was a company director, received commission from a syndicate for underwriting certain shares in a new company which it was engaged in floating, and he was assessed to Income Tax under Schedule D for the year 1919-20 in respect of the commission. He was not concerned in any other underwriting transaction in the years 1919, 1920 and 1921.

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