||All England Reporter
|| All ER (D) 91 (Feb)
|| EWHC 94 (Ch)
||Launcelot Henderson QC and Christopher Tidmarsh (instructed by the Solicitor of Inland Revenue) for the appellant.
||John Gardiner QC (instructed by Lovells) for the respondents.
||7 February 2002
Income tax - Tax advantage - Transaction in securities - Share buy-back schemes - Pension scheme entitled to exemption from tax - Whether trustees obtaining abnormal amount by way of dividend - Whether trustees obtaining tax advantage - , , .
The court allowed the Revenue's appeal from the decision of the Special Commissioners in which they answered the question whether the trustees obtained an abnormal amount by way of dividend in the negative and that accordingly the Revenue could not invoke the provisions contained in ss 703(1), 704A and 709 (forming part of Pt XVII) of the Income and Corporation Taxes Tax 1988.
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