Commentary

B5.654 Concerns where profits arise out of land—gasworks

Business tax
Business tax | Commentary

B5.654 Concerns where profits arise out of land—gasworks

Business tax | Commentary

B5.654 Concerns where profits arise out of land—gasworks

Where a gasworks was bought in a defective condition, it was held that sums debited to a depreciation fund over a number of years in order to provide for the restoration of the plant were not deductible1.

Where a municipal corporation's gasworks supplied gas free for public lamps, the cost of lighting the public lamps was held not to be a deduction from the profits of supplying private customers2.

Gasworks or parts thereof may constitute 'mills, factories or other similar premises'3.

The British gas industry was privatised in

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial