Court of Appeal.

Croom-Johnson, Ralph Gibson and Stuart-Smith L. JJ.

Judgment delivered 2 December 1988.

Corporation tax – Lands Tribunal – Award of compensation for loss of profits consequent on revocation of planning permission – Tribunal deducted amount from sum awarded to take account of corporation tax which would have been payable if profits were earned – Whether sum awarded was itself chargeable to tax either as income or capital – Whether deduction should have been made – Capital Gains Tax Act 1979, sec. 20(1).