NO. 1403–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–

22ND AND 23RD JULY, 1947

COURT OF APPEAL–

27TH FEBRUARY, AND 1ST AND 22ND MARCH, 1948

Income Tax – Annual payment – Income of trust fund payable to settlor for life – Payments out of capital to make up deficiency of income – Income Tax not deducted by trustees – Capital or income – Computation of assessment – Income Tax Act, 1918 (8 & 9 Geo. V, c. 40), Rule 21 of General Rules.