McKay v Commissioner of Inland Revenue - [1973] 1 NZLR 592

Income Tax — Objections to assessment — Objector assigning to his family trust for more than 7 years income arising from moneys loaned by him to his professional partnership — Objector assessed for tax in respect of assigned income — Section 108 can avoid transaction notwithstanding the provisions of s 105 — Court of Appeal may find facts itself if necessary where Supreme Court has stopped short in lieu of remitting to Supreme Court — Land and Income Tax Act 1954, ss 105, 108.