(1) ANGLO-PERSIAN OIL COMPANY, LIMITED v DALE (H.M. INSPECTOR OF TAXES.(1)(2) ANGLO-PERSIAN OIL COMPANY, LIMITED v THE COMMISSIONERS OF INLAND REVENUE.(1) (1929-1932) 16 TC 253
NO. 801.–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION).–
4TH MARCH, 1931.
COURT OF APPEAL.–
5TH, 6TH, 7TH AND 8TH MAY, AND 8TH JUNE, 1931.
Income Tax, Schedule D – Corporation Profits Tax – Deduction in computing profits – Payment in respect of cancellation of agency-contract.
By agreements made in 1910 and 1914 the Appellant Company appointed another limited company as its agents in Persia and the East, for a period of years, upon the terms (inter alia) that the agents should be remunerated by commission at specified rates.