O.K. TRUST, LTD. v REES (H.M. INSPECTOR OF TAXES) (1938-1941) 23 TC 217
NO. 1136–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–
1ST AND 2ND MAY, 1940
Income Tax, Schedule D – Promotion of new company financed by individual acting through a private ‘one-man’ company formed for the purpose – Whether promotion profits assessable in hands of the private company – Income Tax Act, 1918 (8 & 9 Geo. V, c. 40), Schedule D, Cases I & II.