No. 1153–HIGH COURT OF JUSTICE (KING’s BENCH DIVISION)–

13TH JUNE, 1940

Income Tax, Schedule D – Profits of trade – Deduction – Payment for monopoly value – Licensing (Consolidation) Act, 1910 (10 Edw. VII & 1 Geo. V, c. 24), Section 14; Income Tax Act, 1918 (8 & 9 Geo. V, c. 40), Schedule D, Cases I and II, Rule 3.

  The Respondent, a restaurant proprietor, was granted a renewal of his beer and wine on-licence for three years, subject to a payment for monopoly value of £75, payable in three annual instalments.

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