Chancery Division.

[The appeal against this decision is reported at [1991] BTC 196.]

Vinelott J.

Judgment delivered 13 February 1989.

Income tax or capital gains tax – Part of land purchased by taxpayer used for business purposes and part developed for resale – Whether General Commissioners entitled to conclude that profit on sale of the whole property was assessable as trading profit under Sch. D, Case I.

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