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14 Feb 11 AAT's determination on apportionment upheld - Cassegrain

The Full Federal Court (Downes, Edmonds and Greenwood JJ) has dismissed appeals by both the taxpayer and the Commissioner from the decision of the AAT, which held that the amount of $8,835,083 received by the taxpayer and included in the taxpayer's assessable income as a capital gain by the Commissioner should be reduced by $1,598,328. The $8,835,083 had been paid by the CSIRO in full settlement of potential claims that had been made against it by the taxpayer.

The Court held that the AAT had made none of the errors of law in its decision asserted by the taxpayer and the Commissioner: Gerard Cassegrain & Co Pty Limited v FCT [2011] FCAFC 12 (Full Federal Court; Downes, Edmonds and Greenwood JJ; 10 February 2011).


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