VALUE ADDED TAX – denial of repayment of input tax due to MTIC
fraud – ‘grey market’ transaction in razor blades – nature of and terms on
which transactions entered into – other parties to the transactions
unconnected with the fraud – whether FTT erred in concluding on the facts
that the only reasonable explanation for the circumstances in which the
taxpayers’ purchases took place was that they were connected with fraud –
yes – whether taxpayers should have been aware of the connection with
fraud earlier in the chain of transactions – no – appeal allowed.