RANGERS don't expect to be stripped of any of their 54 Scottish titles - despite a court ruling in favour of HMRC in the so-called “Big Tax Case”.

The Court of Session in Edinburgh yesterday upheld an appeal and decided that the use of Employee Benefit Trusts (EBTs) had broken tax rules.

The Gers oldco, which was placed into liquidation in 2012, is now liable for a £46.2 million bill over the use of the scheme to make payments to players, managers and staff.

There were renewed calls for the Ibrox club to be stripped of the titles and trophies they won when EBTs were being used between 2001 and 2010 following the announcement.

However, senior club officials believe the findings of the independent commission set up by the SPL to investigate all financial arrangements between Rangers and its players during that period should be upheld.

The commission, which was chaired by Lord Nimmo Smith, considered allegations that the Glasgow club had breached SPL and SFA rules by failing to disclose EBT payments.

It had been claimed that Rangers, who won the Scottish title in 2003, 2005, 2009, 2010 and 2011, had fielded ineligible players as a result.

The commissioners ruled the payments were not themselves in breach of SPL or SFA rules – but imposed a penalty of £250,000 for their non-disclosure.

They also decided that Rangers did not gain any unfair competitive and the registered players were eligible to play - and advised that no sporting sanction should be imposed upon Rangers.

It remains to be seen, though, what impact, if any, this latest ruling has on that. An SPFL spokesman said the governing body would "take time to carefully consider this lengthy and complex judgement".

Alex McLeish, who was manager when Rangers won the top flight title in 2003 and 2005, was asked about the prospect of the Ibrox club being stripped of titles and trophies in 2012.

McLeish, who spent five years in charge of the club he supported as a boy between 2001 and 2006, stated that he did not feel that course of action would be fair.

“We did nothing wrong,” he said. “It would be very disappointing if that was to happen to Rangers and I don't believe it should.

"If a guy turns up at my door looking for the medals back, he'll be getting a right-hander. If they officially took away the titles, it would be difficult for me to accept.

“No-one can ever take away my memories. No-one could take away the achievements.”

Meanwhile, Rangers are waiting on the outcome of a tribunal into whether they have to pay the SPFL an outstanding debt of £400,000.

The £250,000 fine, plus £150,000 in costs, were imposed on the oldco by the SPL. The newco is being pursued by the SPFL.

The newco took on the oldco’s football debts when the SFA membership was transferred in July 2012 - but it was widely believed they would not be liable for the fine imposed in February 2013.

The independent commission chaired by Lord Nimmo Smith ruled: “There is no allegation that the current owner and operator of the club contravened the SPL rules or could be held responsible for any breach by oldco."