https://www.taxtmi.com/caselaws?id=11430 The High Court affirmed the Tribunal's decision on tax avoidance without the need to assess revenue loss, ruling in favor of the Revenue. The Court held that once tax avoidance was established, it was immaterial who paid the tax or the revenue impact. The case involved transactions between a partnership firm and sister concerns at below-market prices, leading to suspicions of profit diversion to evade taxes. The Tribunal's finding of tax avoidance was upheld based on concrete evidence, and the reference was disposed of accordingly. en-us Sat, 14 Jun 2003 00:00:00 +0530 Sat, 08 Aug 2009 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11430 The High Court affirmed the Tribunal's decision on tax avoidance without the need to assess revenue loss, ruling in favor of the Revenue. The Court held that once tax avoidance was established, it was immaterial who paid the tax or the revenue impact. The case involved transactions between a partnership firm and sister concerns at below-market prices, leading to suspicions of profit diversion to evade taxes. The Tribunal's finding of tax avoidance was upheld based on concrete evidence, and the reference was disposed of accordingly. Case-Laws Income Tax Sat, 14 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11430