The Supreme Court’s decision in Flaherty v Revenue Commissioners [2026] IESC 4 represents a significant judicial consideration of the meaning of a “conditional contract” for the purposes of s542(1)(b) of the Taxes Consolidation Act 1997 (TCA 1997). The underlying dispute related to a capital gains tax (CGT) assessment raised by Revenue (“the assessment”) and the availability of revised entrepreneur relief on the disposal of a fishing vessel and its associated fishing rights, which was appealed by the taxpayer to the Tax Appeals Commission (TAC) and thereafter to the High Court and the Court of Appeal, ultimately coming before the Supreme Court.