A lower UK court incorrectly disallowed assessments and penalties issued by HMRC because of an error in its investigation of an individual’s alleged sales tax evasion, a UK court ruled. The error didn’t constitute HMRC failing to use its “best judgment” assessing £25 million ($32 million) against Parul Malde and two companies, which then didn’t provide the First-Tier Tribunal justification for setting aside the amount, the Upper-Tier Tribunal said.
Source: news.bloombergtax.com
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