Johnston (HM Inspector of Taxes) v Britannia Airways Ltd.  BTC 298
Judgment delivered 7 July 1994.
Corporation tax – Sch. D. Case I – Deduction of expenditure – Major overhaul of aircraft engines after three or four years – Whether expenditure properly anticipated on an accruals basis in accounts for tax purposes.
This was an appeal by the Revenue against a decision of the special commissioners that an airline could deduct the anticipated cost of major jet engine overhauls on an accruals basis over the three or four-year period before the next overhaul.