The Law Reports (Chancery Division)
[1954] Ch 713
[COURT OF APPEAL]
SHARKEY (INSPECTOR OF TAXES) v. WERNHER.
1954 July 5,
6,
7.
Evershed M.R., Jenkins and Hodson L.JJ.
Revenue
— Income tax
— Two trades
— Stud farm
— Trade under Schedule D
— Racing stables
— Recreational and not taxable
— Transfer of horses from farm to stables
— Value attributable to transferred horses in stud farm accounts.