The Law Reports (Chancery Division)
[1965] Ch 1032
[COURT OF APPEAL.]
INLAND REVENUE COMMISSIONERS
v.
PARKER.
INLAND REVENUE COMMISSIONERS
v.
PARKER.
INLAND REVENUE COMMISSIONERS
v.
PARKER.
1965 Feb. 2,
8.
Lord Denning M.R., Danckwerts and Diplock L.JJ.
Revenue
— Surtax
— Company
— Capitalisation of accumulated profits
— Issue of bonus debentures redeemable after seven years
— Redemption
— Whether debentures “securities”
— Whether scheme “transaction in securities”
— Whether “tax advantage” obtained on issue or redemption
—
Finance Act, 1960 (8 & 9 Eliz. 2, c. 44), ss. 28, 43 (4).