INCOME TAX – computation of profits – admitted understatement of profits in one year – discovery assessments raised for other years to make good understated profits – whether assessments justified – yes – onus of proof on taxpayer in relation to amount assessed – failure to produce adequate evidence to displace assessments – appeal dismissed and assessments confirmed
Citations:
[2012] UKFTT 649 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 09 November 2022; Ref: scu.466234