The Law Reports (Appeal Cases)
[1965] AC 631
[HOUSE OF LORDS.]
INLAND REVENUE COMMISSIONERS APPELLANTS; AND F. S. SECURITIES LTD. (FORMERLY FEDERATED SECURITIES LTD.) RESPONDENT.
[ON APPEAL FROM F.S. SECURITIES LTD. v. INLAND REVENUE COMMISSIONERS.]
1964 April 14,
15,
16;
June 4.
June 4.
LORD REID, VISCOUNT RADCLIFFE, LORD HODSON, LORD GUEST and LORD UPJOHN.
Revenue— Income tax— Profits of trade— Dividend stripping— Dealer in stocks and shares— Dividends taxed at source— Whether charged under Schedule D— Whether “investment income”— Whether investment company—
Income Tax Act, 1952 (15 & 16 Geo. 6 & 1 Eliz. 2, c. 10), ss. 257 (2), 525 (1).[1]
Revenue— Surtax— Company— Investment company— “Investment income”— Income from dividend stripping— Whether dealer “investment company”—
Income Tax Act, 1952, ss. 257 (2), 525 (1).