Commissioners of Inland Revenue v Levy

JurisdictionEngland & Wales
Date1982
CourtChancery Division
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5 cases
  • Artist Court Collective Ltd v Sardar Muhammad Ishaq Khan
    • United Kingdom
    • Chancery Division
    • 7 October 2016
    ...claims to ownership of property, or as a potential recipient of bounty from him (see, in a different context, IRC v Levy [1982] STC 442, 56 TC 68). What goes out of one economic pocket comes straight into the other." 35 Mr Caun goes on to say that the subsequent acts of SGR were consisten......
  • Geoffrey Peter Jones v Michael Vincent Garnett (H M Inspector of Taxes), SPC 00432
    • United Kingdom
    • First-tier Tribunal (Tax Chamber)
    • 28 September 2004
    ...and found that he was. That was sufficient to amount to bounty. Later still in 1982 in Commissioners of Inland Revenue v Levy (1982) 56 TC 68 the Inland Revenue argued that an interest free loan conferred an element of bounty because the borrower did not assume any obligation other than the......
  • David Lachlan Campbell v The Commissioners of Inland Revenue, SPC 00421
    • United Kingdom
    • First-tier Tribunal (Tax Chamber)
    • 6 July 2004
    ...unattractive to a non-shareholder: it is an everyday transaction, see per Nourse J at page 85B-E in Inland Revenue Commissioners v Levy (1982) 56 TC 68. On issue the commercial value of the Loan Notes to the Appellant, as owner of the Company, was the same as the subscription price. There w......
  • D Campbell v The Commissioners of the Inland Revenue
    • United Kingdom
    • Special Commissioners (UK)
    • 6 June 2004
    ...unattractive to a non-shareholder: it is an everyday transaction, see per Nourse J at page 85B-E in Inland Revenue Commissioners v Levy (1982) 56 TC 68. On issue the commercial value of the Loan Notes to the Appellant, as owner of the Company, was the same as the subscription price. There w......
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