Van den Berghs Ltd v Clark (Inspector of Taxes)

[1935] A.C. 431

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Between: Van den Berghs Ltd - Appellant
And: Clark (Inspector of Taxes) - Respondent

Court:

Judges: Lord Atkin
Lord Tomlin
Lord Russell of Killowen
Lord MacMillan
Lord Wright

Subject References:
REVENUE
INCOME TAX
Agreement between Trade Rivals
Sum paid to terminate
Capital or Profits of Trade

Legislative References:
Income Tax Act, 1918 (8 & 9 Geo. 5, c. 40) - Sch. D, Case 1

Judgment date: 8 April 1935

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ORDER

Order of the Court of Appeal complained of reversed and judgment of Finlay J., thereby set aside, restored: Ordered that the respondent do pay the appellants the costs incurred by them in the Court of Appeal and repay to the appellants the amount of the tax paid by them to the respondent together with interest thereon at the rate of 4 per centum per annum as from July 1, 1932, to March 22, 1934, inclusive, and also as from July 20, 1934; Further ordered that the respondent do pay to the appellants the costs incurred by them in respect of the appeal to this House: Further ordered that the cause be remitted back to the King's Bench Division of the High Court of Justice, to do therein as shall be just and consistent with this judgment.