LEGGE (H.M. INSPECTOR OF TAXES) v FLETTONS, LTD.(1) (1935-1939) 22 TC 455
NO. 1102–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–
11TH AND 12TH MAY, 1939
Income Tax, Schedule D – Sidings at traders’ works constructed by railway company at traders’ expense – Instalment payments (based on yearly traffic receipts) made by railway to trader up to actual construction cost – Sidings then to be transferred to railway – Whether instalments capital or income.