Law:

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Section 526(1) - Income-tax Act, 1952 CASES REFERRED TO Rutledge v. Inland Revenue Commissioners [1929] 14 T.C. 490, Inland Revenue Commissioners v. Fraser [1942] 24 T.C. 498, Edwardsv. Bairstow [1956] A.C. 14 ; 36 T.C. 207, Sharpless v. Rees [1941] 23 T.C. 361, Reynolds Executors v. Bennett [1943] 25 T.C. 401, Gray & Gillett v. Tiley [1944] 26 T.C. 80, Turner v. Last [1965] 42 T.C. 517, Page v. Pogson [1954] 35 T.C. 545, Jones v. Leeming [1930] A.C. 415; 15 T.C. 333, Inland Revenue Commissioners v. Reinhold [1953] 34 T.C. 389, Willians v. Davies [1945] 26 T.C. 371 Patrick Medd for the Crown Denis Carey for the Taxpayer STATEMENT OF CASE 1. At a meeting of the Commissioners for the General Purposes of the Income Tax for the Division of Offlow South in the County of Stafford held on November 19, 1968 at Kelvin House 23, Lichfield Street, Walsall, Ronald Jack Helth (hereinafter called "the taxpayer") appealed against two alternative assessments made on him under Case I of Schedule D for the income tax years 1961-62 and 1962-63, respectively, each in the sum of £9,820 which was the agreed amount of profit from a sale of land this meeting the parties agreed that 1961-62 was the only relative year and that the 1962-63 assessment should be discharged. 2. The question for our determination was whether the said sum of £9,820 was a profit or gain form and adventure in the nature of trade within the meaning of section 526(1) of the Income Tax Act, 1952. 3. ,.. 4. ,. 5. The following facts were admitted or proved : (1) The taxpayer was at all material times employed as a manager by Abraham Purshouse and Sons Ltd. ("the company") which carried on the business of builders and civil engineering contractors. He had no professional qualification. (2) The taxpayer did not exercise any control over the company. Neither he nor his wife were shareholders or directors, nor were they related to the directors or shareholders of the company. (3) The taxpayer had been employed by the company for about eighteen years and managed the Tamworth Brach. He supervised all contracts in the Tamworth area involving some 30 to 40 houses per year. (4) The company had owned a plot of land at…

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