HIGH COURT OF JUSTICE (CHANCERY DIVISION)–

27TH, 28TH, AND 29TH JULY AND 20TH DECEMBER 1971

Income tax, Schedule D – Profits tax – Discontinuance – Valuation of trading stock – Assets sold at undervalue to trader in United Kingdom – Whether belonging to trade at discontinuance – Income Tax Act 1952 (15 & 16 Geo. 6 & 1 Eliz. 2, c.10), s. 143(1) (a).

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