The Weekly Law Reports
[1971] 2 WLR 914
[COURT OF APPEAL]
HINCHCLIFFE (INSPECTOR OF TAXES)
v.
CRABTREE
1970 Nov. 11,
12,
13
Russell, Sachs and Buckley L.JJ.
Revenue
— Capital gains tax
— Valuation of quoted securities
— Price which shares might reasonably be expected to fetch in 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) (3)
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