Court of Appeal.

[The appeal against this decision is reported at [1983] BTC 448.]

Judgments delivered 4 March 1983.

Corporation tax – Notional profits on currency translations – Whether assessable as income – Income and Corporation Taxes Act 1970, sec. 238.

  This was an appeal by the taxpayer company against a decision of Vinelott J. to the effect that a notional sterling profit was subject to corporation tax.

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