§ 21. Mr. STAVELEY-HILLasked under what Acts the claims are considered for the repayment of Income Tax from the holders of preference shares and debentures the dividend and interest on which are paid free of Income Tax?
§ Mr. LLOYD GEORGEClaims for repayment of Income Tax made by exempt persons are considered under Section 165 of the Income Tax Act, 1842.
§ 22. Mr. STAVELEY-HILLasked whether it is the practice of the Board of Inland Revenue when dealing, for purposes of Income Tax, with income arising from debentures which stipulate for the payment of interest free of Income Tax, not to regard the interest paid to a, holder in respect of such debentures as 959 liable to tax by direct assessment, accepting payment by the company as payment of Income Tax on the holder's income arising from the debentures?
§ Mr. LLOYD GEORGEThe answer is in the affirmative.