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United Kingdom House of Lords Decisions
You are here: BAILII >> Databases >> United Kingdom House of Lords Decisions >> Mersey Docks and Harbour Board v Lucas [1883] UKHL TC_2_25 (28 June 1883)
URL: http://www.bailii.org/uk/cases/UKHL/1883/TC_2_25.html
Cite as: 2 TC 25, [1883] UKHL TC_2_25

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Mersey Docks and Harbour Board v Lucas - [1883] UKHL TC_2_25 28 June 1883

Income Tax.-Profits. Corporation. A harbour board is empowered by Act of Parliament to levy dock dues, Sfc., to be applied in maintaining the concern, and in paying interest on moneys borrowed; any surplus income remaining after meeting these charges is directed to be applied in forming a sinking fund to extinguish the debt incurred in the construction of the docks. Held, that the surplus is profit assessable to the income tax.

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URL: http://www.bailii.org/uk/cases/UKHL/1883/TC_2_25.html