Challenge Corporation Ltd v Commissioner of Inland Revenue - [1986] 2 NZLR 513

Income tax — Tax avoidance — Overlap of anti-avoidance provisions — Group accounting — Purchase of company with accumulated loss — Intent of purchase was to off-set group's profits — Whether compliance with specific statutory provision negates compliance with general provision — Whether purchase of company was tax avoidance or tax mitigation — Income Tax Act 1976, ss 99 and 191 (as it stood prior to amendment in 1978).