ABSALOM v TALBOT (H.M. INSPECTOR OF TAXES)(1) (1942-1945) 26 TC 166
No. 1297–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–
14TH AND 15TH MAY, 1942
COURT OF APPEAL–
23RD, 24TH, 25TH AND 26TH FEBRUARY, AND 20TH APRIL, 1943
HOUSE OF LORDS–
14TH, 15TH, 16TH, 17TH, 21ST, 23RD, 24TH AND 28TH FEBRUARY, AND 19TH MAY, 1944
Income Tax, Schedule D – Profits of trade – Sales of houses by builder – Part purchase price advanced by building society – Whether balance, secured by second mortgage granted by builder, to be brought in as trading receipt in year of sale.