Tax Planning vide colourable device u/s 45(3) not allowed?

Vivek Jalanpro badge , Last updated: 01 November 2023  
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Is tax planning an offence or not? From the Apex Courts decision in the case of Union of India vs. Azadi Bachao Andolan [2003] 263 ITR 706 (SC), it is transpired that once the transaction is genuine, merely because it was entered into with a motive to plan tax, it would not become a colourable devic

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Vivek Jalan
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Category Income Tax   Report

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