No. 608.–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION).–

25TH NOVEMBER, 1926.

COURT OF APPEAL.–

2ND AND 3RD FEBRUARY, 1927.

Income Tax – Foreign income – Interest on personal loan – Whether income from foreign security or foreign possession – Basis of assessment – Income Tax Act, 1918 (8 & 9 Geo. V, c. 40), Schedule D, Cases IV and V.

  By an agreement in writing dated 9th August, 1919, Lord Manton lent personally to a Dutch company £1,500,000 repayable in London with interest at 6 per cent. by the following instalments:–

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