NO. 42*.–COURT OF SESSION, SCOTLAND (FIRST DIVISION).–

9TH AND 17TH NOVEMBER, 1923.

Excess Profits Duty – Profits of trade – Deduction – Expenditure on repairs of ship purchased when periodical survey overdue – No succession to vendor’s trade – Finance (No. 2) Act, 1915, (5 & 6 Geo. V, c. 89), Section 40, and Fourth Schedule, Part I, Rule 3 – Finance Act, 1916 (6 & 7 Geo. V, c. 24), Section 47 – Income Tax Act, 1918 (8 & 9 Geo. V, c. 40), Schedule D, Cases I and II, Rule 3.

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