Postlethwaite v Commissioners of Inland RevenueCommissioners of Inland Revenue v Postlethwaite (1961-1964) 41 TC 224
HIGH COURT OF JUSTICE (CHANCERY DIVISION)–
17TH AND 18TH JULY, 1963
Income Tax, Schedule D–Annual payment–Annual sums payable out of capital–Income to be added to capital–Whether payments made wholly out of taxed income – Whether capital payments – Whether assessment competent for year in which no income received – Income Tax Act, 1952 (15 & 16 Geo. VI & 1 Eliz. II, c. 10), Sections 123 (Schedule D, Case III), 131, 149 and 169.