Johns v Wirsal Securities Ltd

Subject Matter

REVENUE — Income tax — Dividends — Company distributing total distributable profits — Dividend expressed to be payable “net” — Whether shareholder to be deemed to receive gross sum greater than gross profit — Income Tax Act, 1952, ss 184, 185, 186, 199

[1966] 1 WLR 462

REVENUE — Income tax — Profits of trade — Securities — Loss claim — Sale of shares — Company formed as dealer in securities — Forward dividend strip — Real transactions — Whether in course of trade — Income Tax Act, 1952, s 341

[1966] 1 WLR 462