Chancery Division.

[The appeal against this decision is reported at [1986] BTC 8088.]

Judgment delivered 29 November 1985.

Petroleum revenue tax – Relief for expenditure supplement on expenditure incurred in acquiring certain assets – Whether expenditure incurred in pursuance of a contract entered into before 1 January 1981 – Oil Taxation Act 1975, sec. 2(9)(b)(ii), 3(5)(c); Finance Act 1981, sec. 111(1), (7).

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