Privy Council.

Lord Griffiths, Lord Ackner, Lord Jauncey of Tullichettle, Lord Lowry and Sir Robert Megarry.

Judgment delivered 25 January 1989.

Income tax – Trading income – Contract for the sale of land at a profit in 1970 – Purchaser to be let into possession on payment of deposit – Payment not made on due date but portions conveyed in 1973 and 1974 – Transactions not declared – Estimated further assessments made in 1978 in respect of profits arising in 1973 and 1974 – Trading in land admitted in 1970 – Whether trading in land in 1973 and 1974.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.