SEAHAM HARBOUR DOCK COMPANY v. W. F. CROOK (INSPECTOR OF TAXES).

(1930) 37 Ll L Rep 38

KING'S BENCH DIVISION.

Before Mr. Justice Rowlatt.

Revenue-Income tax-Grant to dock company from Unemployment Grants Committee for dock extension work-Relief of unemployment - Annual grant equivalent to half the interest on approved expenditure met out of certain loans-Whether a capital or income receipt-Held, that the sum granted was an annual profit or gain within the meaning of the Income Tax Acts.