NO. 1077–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–

22ND JUNE, 1937

COURT OF APPEAL–

11TH AND 12TH MAY, 1938

Income Tax, Schedule D – Income or capital – Agreement for exclusive licence to use foreign patent – Consideration expressed as a lump sum payable by instalments, and annual payments ‘as "royalty’ – Payment ‘in respect of the user of a patent’ – Income Tax Act, 1918 (8 & 9 Geo. V, c. 40), General Rule 21; Finance Act, 1927 (17 & 18 Geo. V, c. 10), Section 26.

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