The Weekly Law Reports
[1965] 3 WLR 636
[HOUSE OF LORDS.]
REGENT OIL CO. LTD. APPELLANT; AND STRICK (INSPECTOR OF TAXES) RESPONDENT.
SAME APPELLANT; AND INLAND REVENUE COMMISSIONERS RESPONDENTS.
[CONSOLIDATED APPEALS.]
[APPEAL FROM STRICK (INSPECTOR OF TAXES) v. REGENT OIL CO. LTD.]
1965 June 15,
16,
17,
21,
22,
23;
July 27.
July 27.
LORD REID, LORD MORRIS OF BORTH-Y-GEST, LORD PEARCE, LORD UPJOHN and LORD WILBERFORCE.
Revenue
— Income tax
— Capital or revenue expenditure
— Trading profits of oil company
— Payments to secure exclusive sales stations
— Whether premiums for head leases deductible
— Restrictive covenants by proprietors as sublessees
— Payments for permanent assets
—
Income Tax Act, 1952 (15 & 16 Geo. 6 & 1 Eliz. 2, c. 10), s. 137 (f).