GOLD COAST SELECTION TRUST, LTD. v HUMPHREY (H.M. INSPECTOR OF TAXES)(1)HUMPHREY (H.M. INSPECTOR OF TAXES) v GOLD COAST SELECTION TRUST, LTD.(1) (1943-1949) 30 TC 209
NO. 1405–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–
13TH, 14TH AND 15TH MAY, 1946
COURT OF APPEAL –
30TH, 31ST OCTOBER, 1ST, 4TH AND 22ND NOVEMBER, 1946
HOUSE OF LORDS–
3RD, 4TH, 5TH, 6TH AND 9TH FEBRUARY AND 14TH JULY, 1948
Income Tax, Schedule D – Profits of trade – Company dealing in gold mining concessions, etc. – Concessions sold for fully paid shares – Shareholding in one company changed into a shareholding in another company by reason of the liquidation of the former company – Whether the sales and the exchange constitute realisations – Valuation.