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Lloyd's Law Reports

SHORT BROTHERS v. COMMISSIONERS OF INLAND REVENUE.

(1927) 27 Ll L Rep 81

COURT OF APPEAL.

Before the Master of the Rolls (Lord Hanworth), Lord Justice Sargant and Lord Justice Lawrence.

Revenue-Excess Profits Duty-Shipbuilding company - Cancellation of contract to build ships-Sum paid as compensation -Whether a profit "arising from any trade or business" or a capital receipt -Whether there should be apportionment over contract period - Finance (No. 2) Act, 1915, Sect. 38.

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