Lupton (H.M. Inspector of Taxes) v Cadogan Gardens Development Ltd.(1)Carlton Tower Ltd. v Moore (H.M. Inspector of Taxes)Carlton Tower Ltd. v Commissioners of Inland Revenue (1968-1972) 47 TC 1
HIGH COURT OF JUSTICE (CHANCERY DIVISION)–
10TH, 13TH AND 14TH JULY 1970
COURT OF APPEAL–
1ST, 2ND AND 3RD MARCH 1971
Income tax – Profits tax – Capital allowances – Leased machinery and plant – Burden of wear and tear – Covenants by lessee to keep in good and substantial repair and for replacement of worn-out items – Replacement likely to be necessary during currency of lease – Whether lessor or lessee entitled to capital allowances – Income Tax Act 1952 (15 & 16 Geo. 6 & 1 Eliz. 2, c. 10), ss. 298 and 299.