1978 Aberdeen Construction Group Ltd v Inland Revenue Commissioners [1978] UKHL TC_52_281 (15 February 1978)

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URL: http://www.bailii.org/uk/cases/UKHL/1978/TC_52_281.html
Cite as: [1978] AC 885, [1978] UKHL TC_52_281, [1978] 2 WLR 648, [1978] 1 All ER 962, [1978] TR 25, [1978] STC 127, 52 TC 281, 1978 SC (HL) 72, 1978 SLT 146

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Aberdeen Construction Group Ltd v Inland Revenue Commissioners [1978] UKHL TC_52_281 (15 February 1978)

Corporation tax - Chargeable gains - Disposal by holding company of its shares in subsidiary company on condition that holding company waived repayment of its loans to the subsidiary - Whether consideration given for shares alone or shares and loans - Whether the loans were debts on a security and an allowable loss accrued - Whether the amount of the loans was an allowable deduction in computing the gain or loss on the disposal - Finance Act 1965 (c 25), Sch 7, para 11; Sch 6, paras 4(1) (b), 8.

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URL: http://www.bailii.org/uk/cases/UKHL/1978/TC_52_281.html