The Law Reports (Chancery Division)
[1967] Ch 1016
[COURT OF APPEAL]
MACSAGA INVESTMENT CO. LTD.
v.
LUPTON (INSPECTOR OF TAXES)
1967 Feb. 7,
8;
March 15
March 15
LORD DENNING M.R., HARMAN and SALMON L.JJ.
Revenue
— Income tax
— “Machinery or plant”
— Lifts and heating plants in office block
— Premises let to Government department by property investment company
— Lessee's covenants to repair building and fixtures
— Lessor's claim for wear and tear allowance
— Neither lessor nor lessee using machinery or plant for trade
— “Burden of the wear and tear thereof”
— “Wear and tear”
— Whether lessor entitled to allowance
—
Income Tax Act, 1952 (15 & 16 Geo. 6 & 1 Eliz. 2, c. 10), ss. 298, 299.