The Law Reports (Chancery Division)
[1970] Ch 626
[CHANCERY DIVISION]
HINCHCLIFFE (INSPECTOR OF TAXES)
v.
CRABTREE
1969 Dec. 4,
5
Pennycuick J.
Revenue
— Capital gains tax
— Valuation of quoted securities
— Price which shares might reasonably be expected to fetch on open market
— Mid-market price of shares quoted on London Stock Exchange
— Take-over negotiations not published or communicated to Stock Exchange
— Whether “special circumstances”
— Whether prices quoted on London Stock Exchange proper measure of market value
—
Finance Act, 1965 (c. 25), s. 44 (1) (2) (3).
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