NO. 916.–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION).–

8TH AND 9TH MARCH, 1934

Income Tax, Schedule D – Interest on money on deposit – Payment of interest waived for year of assessment – ‘.... ceases "to possess any particular source….’ – Income Tax Act, 1918 (8 & 9 Geo. V, c. 40), Schedule D, Case III; Finance Act, 1926 (16 & 17 Geo. V, c. 22), Sections 22 and 30.

  The Appellant was one of the four shareholders of an unlimited liability company carrying on the business of bankers, the management being conducted by a ‘board of partners’ consisting of the shareholders.

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