Part 13Tax avoidance
Chapter 1Transactions in securities
Appeals
705Appeals against counteraction notices
1
A person on whom a counteraction notice has been served may appeal F2... on the grounds that—
a
section 684 (person liable to counteraction of income tax advantage) does not apply to the person in respect of the transaction or transactions in question, or
b
the adjustments directed to be made are inappropriate.
2
Such an appeal may be made only by giving notice to the Commissioners for Her Majesty's Revenue and Customs within 30 days of the service of the counteraction notice.
3
On an appeal under this section F1that is notified to the tribunal, the tribunal may—
a
affirm, vary or cancel the counteraction notice, or
b
affirm, vary or quash an assessment made in accordance with the notice.
4
But the bringing of an appeal under this section F4... does not affect—
a
the validity of the counteraction notice, or
b
the validity of any other thing done under or in accordance with section 698 (counteraction notices),
pending the determination of the proceedings.
F3706Rehearing by tribunal of appeal against counteraction notice
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F3707Statement of case by tribunal for opinion of High Court or Court of Session
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F3708Cases before High Court or Court of Session
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F3709Effect of appeals against tribunal's determination under section 706
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F3710Appeals from High Court or Court of Session
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F3711Proceedings in Northern Ireland
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