colorable device

This query is : Resolved 
 

(Querist)
17 February 2017

deposit in the nature of colorable device means


SEETHARAMAN (Expert)

17 February 2017

It may be a dubious deposit to avoid payment of taxes.
"tax planning may be legitimate provided it is within the frame work of law". "Colourable devices cannot be a part of tax planning and it is wrong to encourage or entertain the belief that it is honourable to avoid payment of tax by resorting to dubious methods".

B.Chackrapani Warrier (Expert)
17 February 2017

Not a genuine deposit.



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