Chancery Division.

Judgment delivered 4 December 1985.

Capital gains tax – Allowable deduction – Expenditure incurred wholly and exclusively on enhancement of value of property – Intended payment to obtain vacant possession of property – Provision of rent-free accommodation for life instead of cash payment – Money not actually expended – Whether expenditure incurred to fulfil obligation to provide accommodation was itself incurred wholly and exclusively for purpose of enhancing value of property – Capital Gains Tax Act 1979, sec. 32(1)(b).

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