Hearings
19 May 1944 [1944] AC 204, HL
Absalom v Talbot
Subject Matter
REVENUE — Income tax — Assessment — Profits — Sales of houses by builder — Part of purchase price advanced by building society on security of first mortgage — Balance advanced by builder on security of second mortgage — Inclusion as trading receipt in year of sale — Income Tax Act, 1918 (8 & 9 Geo. 5, c. 40), sch. D, cases I and II, r. 3 (i.).