MURPHY (H.M. INSPECTOR OF TAXES) v AUSTRALIAN MACHINERY AND INVESTMENT CO., LTD. (ASSESSED IN THE NAME OF DE BERNALES AS AGENT) (1943-1949) 30 TC 244
No. 1406 – HIGH COURT OF JUSTICE (KING’S BENCH DIVISION)–
19TH, 20TH AND 31ST MARCH, 1947
COURT OF APPEAL–
17TH, 18TH AND 19TH FEBRUARY, 1948
Income Tax, Schedule D, Case I – Gold mining interests sold to Australian companies for shares in those companies – Shares sold in United Kingdom – Computation of profit from trade here – Whether cost of shares to be taken at par value, or at value of mining interests for which acquired.