Case Law
A taxpayer tried to argue that “benefits received” covered only payments to him of an income nature. IRC v Mardon 1956 TC 565. The Courts rejected this argument and held that the phrase covered benefits of both capital and of income.
A taxpayer tried to argue that “benefits received” covered only payments to him of an income nature. IRC v Mardon 1956 TC 565. The Courts rejected this argument and held that the phrase covered benefits of both capital and of income.