Lawson v Rolfe

Subject Matter

REVENUE — Income tax — Schedule D, Case V — Stock dividends distributed by United States companies to trustee of Californian trust — Nature of stock dividends in Californian law — “Pennsylvania Rule” — Whether stock dividends income in hands of trustee — Whether income in taxpayer's hands — Income Tax Act, 1952, ss 122,123

[1970] Ch 612; [1970] 2 WLR 602