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5. London & Thames Haven Oil Wharves Ltd. v. Allwooll (H. M, Inspector of Taxes) [1966] 43 TC 491, 493; [1968] 70 ITR 460(CA): Here the assessee owned a jetty which was damaged by the negligent navigation of a tanker. The jetty was repaired at a cost of 83,168. The assessee also lost the use thereof for 380 days which was quantified at 32,450. The owners of the tanker admitted liability but paid only 77,876. The jetty was insured against physical damage and the assessee entered into an agreement with the underwriters to the effect that the sum recovered from the owners of the tanker would be apportioned rateably as between the said physical damage and consequential damage and that the underwriter should pay the uncovered balance of the physical damage. The assessee thus recovered the amount of the physical damage in full, 21,404 towards consequential damage and 2,325 by way of interest, The question arose in the income-tax assessment of the assessee whether the sum of 21,404 recovered from the owner of the tanker in part satisfaction of the claim for loss of use of the jetty was taxable as a trading receipt in the hands of the assessee. In the Court of Appeal Wilmer L.J. observed as under (p. 513) :