A transaction must be looked at as a whole in order to establish whether it was a genuine trading transaction eligible for tax relief, or was an action engendered solely by fiscal motives.
 1 WLR 606
England and Wales
Cited – New Angel Court Ltd v Adam (Inspector of Taxes) ChD 25-Jul-2003
The taxpayer company employed a subsidiary company through which it conducted its trade in land. It then sought to represent the profits from that subsidiary within its own accounts as trading profits for corporation tax purposes. The commissioner . .
Lists of cited by and citing cases may be incomplete.
Updated: 29 April 2022; Ref: scu.185843