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03 Sep 07 Full Court dismisses taxpayer's appeal - Epov

The Full Federal Court (Heerey, Lindgren and Gordon JJ) has dismissed the taxpayer's appeal from the decision of Edmonds J, who had held that a large number of payments, made by a company of which the taxpayer was one of the shareholders, been correctly included in the taxpayer's assessable income pursuant to s 108 ITAA 1936, largely on the basis of a complete lack of evidence as to what the payments were for. An argument advanced on behalf of the taxpayer that the Commissioner was precluded from issuing amended assessments while appeals were on foot in respect of the original assessments was also rejected by Edmonds J: Epov v FCT [2007] FCAFC 139 (Full Federal Court; Heerey, Lindgren and Gordon JJ; 27 August 2007).

For a copy of the decision, go here

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