The Weekly Law Reports
[1975] 1 WLR 191
[COURT OF APPEAL]
AYERST (INSPECTOR OF TAXES)
v.
C. & K. (CONSTRUCTION) LTD.
1973 Nov. 26,
27
1974 Oct. 25, 28
1974 Oct. 25, 28
Templeman J. Stamp and Scarman L.JJ. and Brightman J.
Revenue
— Income tax
— Discontinuance of trade
— Compulsory liquidation of company
— Business of liquidated company sold to subsidiary company
— Nature of ownership of shares of subsidiary company held by liquidated company
— Whether discontinuance of trade
— Whether subsidiary company entitled to income tax relief for losses of liquidated company
—
Finance Act 1954 (2 & 3 Eliz. 2, c. 44), s. 17 (1) (4) (b) (c) (5) (6) (a) (b)