(1)[F1profits] arising out of land in the case of any concern specified in subsection (2) below shall be charged to tax under Case I of Schedule D.
(2)The concerns are—
(a)mines and quarries (including gravel pits, sand pits and brickfields);
(b)ironworks, gasworks, salt springs or works, alum mines or works (not being mines falling within the preceding paragraph) and waterworks and streams of water;
(c)canals, inland navigation, docks and drains or levels;
(d)fishings;
(e)rights of markets and fairs, tolls, bridges and ferries;
(f)railways and other ways;
(g)other concerns of the like nature as any of the concerns specified in paragraphs (b) to (e) above.
Textual Amendments
F1Word in s. 55(1) substituted (31.7.1998) by Finance Act 1998 (c. 36), s. 46(3)(a)(b), Sch. 7 para. 1