62. Sir F. HALLasked the Chancellor of the Exchequer whether the attitude taken up by the Inland Revenue authorities in a number of cases recently in refusing to allow trading companies to set off investment losses against trading profits is in accordance with established practice?
§ Mr. PETHICK-LAWRENCEIt is settled law that in the computation of trading profits for Income Tax purposes no regard can be had either to capital losses or to capital gains.