Chancery Division.

[The appeal against this decision is reported at [1987] BTC 283.]

Judgment delivered 16 December 1986.

Income tax – Trustees – Additional rate tax – Settlement on discretionary trusts – Payments for maintenance of beneficiary out of trust capital – Whether payments represented taxable income of beneficiary – Finance Act 1973, sec. 17.

  This was an appeal by the Crown by way of Case Stated dated 16 October 1984 from a decision of a single Special Commissioner whereby he reduced to nil assessments made on the trustees of the Joseph Levy 1961 Discretionary Settlement.

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