No. 1164–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–

11TH AND 12TH JANUARY AND 20TH MARCH, 1940

COURT OF APPEAL–

2ND JULY, 1940

Income Tax, Schedule D – Business sold to company – Contracts unexecuted at date of sale completed by purchaser as agent for vendor – Percentage of profits on these contracts paid to vendor – Whether payments part of purchase price or taxable profits in hands of vendor.

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