Public Trustee and Another v Commissioner of Inland Revenue - [1960] NZLR 365

Revenue — Income tax — Compensation for land taken fixed by agreement at "amount equal to £28,000 plus interest from the date of possession until the actual date of payment of compensation" — Amount paid in excess of £28,000 taxable as interest — Land and Income Tax Act 1923, s. 79 (1) (g).

Revenue — Income tax — Trustee's income — Sum received by trustee who was in doubt whether it was income or capital in his hands — Later determined to be income — Life tenant entitled to receipt in possession at date of receipt by trustee notwithstanding such doubt — Land and Income Tax Act 1923, s. 102 (a).