ENSIGN SHIPPING CO., LTD. v THE COMMISSIONERS OF INLAND REVENUE.(1) (1930) 12 TC 1169
NO. 75*–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION).–
22ND AND 23RD NOVEMBER, 1927.
COURT OF APPEAL.–
27TH MARCH, 1928.
Excess Profits Duty – Compensation received by shipowners for compulsory detention of ships by Government – Whether profits of trade – Accounting period to which to be allocated.
During a coal strike in 1920 two ships belonging to the Appellant Company, which were ready to proceed to sea with cargoes of coal, were detained in port by order of the Government for periods of 15 and 19 days.