In a rare victory for an appellant over Revenue at the TAC, the Commission has directed that the Revenue assessment on the man be reduced to zero.Revenue served the €692,010 CGT bill on the man in 2018 arising from him receiving a house as a gift from his mother in 2015.The Revenue served the bill after concluding that the man didn't qualify for a CGT 'dwelling house’ exemption after finding that he had a beneficial interest in several houses at the time of his mother’s gift.
The matter at issue in the appeal related to whether the man was, at the date of the gift of the property, beneficially entitled to any other house or to any interest in any other house.
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