Chancery Division.

[The appeal against this decision is reported at [1984] BTC 5.]

Judgment delivered 24 March 1982.

Corporation tax – Trading stock – Groups of companies – Acquisition of property by land dealing company from development company in same group – Transfer of property by land dealing company to investment company in same group – Whether land dealing company acquired trading stock – Finance Act 1965 – Sch. 7, para. 1Income and Corporation Taxes Act 1970 – sec. 273(1); 274(1).

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