The Law Reports (Chancery Division)
[1960] Ch 27
[COURT OF APPEAL]
ABBOTT
v.
PHILBIN (INSPECTOR OF TAXES).
1959 Oct. 2,
5,
6.
Lord Evershed M.R., Sellers and Harman L.JJ.
Judicial Precedent
— Scottish decision
— Statute applicable to Scotland and England
— Revenue statute
— No peculiarity of Scots law involved
— Decision not per incuriam
— Whether Court of Appeal bound by Court of Session.
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.