Commissioners of Inland Revenue v South Georgia Co, Ltd – [1958] UKHL TC_37_725 27 February 1958
Profits Tax-Trading loss exceeding franked investment income, which exceeds gross relevant distributions-Calculation of “ profits computed without abatement and including franked investment income ’’–Whether distribution charge incurred-Finance Act, 1937 (1 Edw. VIII & 1 Geo. VI, c. 54), Fourth Schedule, Paragraph 7 ; Finance Act, 1947 (10 c£ 11 Geo. VI, c. 35), Sections 30 (3), 32 and 34 (2).
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