The Weekly Law Reports
[1957] 2 WLR 812
[COURT OF APPEAL.]
HART (INSPECTOR OF TAXES)
v.
SANGSTER.
1957 March 19.
Lord Goddard C.J., Jenkins and Sellers L.JJ.
Revenue
— Income tax
— New source of income
— “Source”
— Deposit account at bank
— Interest payable on sums deposited
— Whether new contract between customer and bank arises every time a fresh sum deposited
— “New source, or addition to source, of income”
—
Income Tax Act, 1918 (8 & 9 Geo. 5, c. 40), Sched. D., Case III
—
Finance Act, 1951 (14 & 15 Geo. 6, c. 43), s. 21.
Banking
— Deposit account
— Contract
— Whether new contract whenever money paid in.