The Weekly Law Reports
[1960] 3 WLR 255
[HOUSE OF LORDS.]
ABBOTT APPELLANT; AND PHILBIN (INSPECTOR OF TAXES) RESPONDENT.
1960 May 2,
3;
June 21.
June 21.
VISCOUNT SIMONDS, LORD REID, LORD RADCLIFFE, LORD KEITH OF AVONHOLM and LORD DENNING.
Revenue
— Income tax
— Employment
— Perquisite
— Option to purchase shares
— Purchase of option to subscribe for shares in employing company
— Whether perquisite
— Whether emolument
— Whether taxable in the year of purchase or the year of exercise
—
Income Tax Act, 1952 (15 & 16 Geo. 6 & 1 Eliz. 2, c. 10), Sch. 9, r. 1.