THOMPSON (H.M. INSPECTOR OF TAXES) v MAGNESIUM ELEKTRON, LTD.(1) (1942-1945) 26 TC 1
No. 1280–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–
14TH AND 15TH JANUARY, 1943
COURT OF APPEAL–
16TH AND 17TH DECEMBER, 1943
Income Tax, Schedule D – Profits of trade – Agreement not to manufacture commodity required in making product sold, but to purchase it from another company – Sums received from other company related to amount of commodity not manufactured but so supplied – Whether trading receipts.