§ 23. Mr. STAVELEY-HILLasked whether it is the practice of the Board of Inland Revenue to refuse repayment of Income Tax to the holders of debentures which stipulate for the payment of interest free of Income Tax, although the holder is entitled to exemption from Income Tax?
§ Mr. LLOYD GEORGEThe answer to the question is in the affirmative. The Income Tax Acts only authorise repayment to an exempt person of tax which he has paid or has actually suffered by deduction from rent or interest.