§ Major GLYNasked the Financial Secretary to the Treasury whether he will consider, in consultation with the President of the Board of Education, the revision of the existing practice for the assessment of Income Tax as a result of the Court of Appeal decision, 24th November, 1924, in the case of the Board of Inland Revenue v. Brighton College, so that where it can be proved that a school is not carried on for private profit, and where the work is being carried on without the aid of any grant from the Board of Education, any excess of income, provided it is applied in maintaining or assisting the school and its work, including the provision of buildings, playing fields, etc., together with interest, if any, on any money borrowed 2096W for the purchase of any land or buildings used for the school, and any sinking fund for the replacement of such borrowed money, may be exempted from Income Tax by the insertion of a Clause in the Finance Bill, 1925?
Mr. GUINNESSI am afraid that I cannot see my way to adopt this suggestion. Apart from other considerations, the case to which the hon. and gallant Member refers must still be regarded assub judice, inasmuch as the Brighton College authorities have not intimated that they intend to accept the Court of Appeal decision, and the time for appealing from that decision to the House of Lords has not yet expired.