NO. 493.–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION).–

23RD AND 24TH JUNE, 1924.

Income Tax, Schedule D – Excess Profits Duty – Ship-managers – Profits of trade – Compensation for loss of employment.

  The Respondents, a firm of ship-managers, were employed in that capacity by a certain steamship Company, their remuneration consisting in part of a percentage of the Company’s annual net profits, including interest on its investments, which were considerable.

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