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colorable device

This query is : Resolved 
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(Querist)
17 February 2017 deposit in the nature of colorable device means
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CA R SEETHARAMAN

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CA R 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".
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 February 2017 Not a genuine deposit.
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