Petrotim Securities, Ltd. v Ayres (H.M. Inspector of Taxes)(1) (1961-1964) 41 TC 389
HIGH COURT OF JUSTICE (CHANCERY DIVISION)–
27TH, 28TH AND 29TH NOVEMBER, AND 4TH DECEMBER, 1962; 2ND AND 10TH APRIL, 1963
COURT OF APPEAL–
12TH AND 13TH NOVEMBER, 1963
Income Tax, Schedule D – Financial concern – Sales of investments at less than cost or market value to companies under the same control – Whether made in course of trade – Valuation of stock disposed of otherwise than in course of trade.