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colorable device

This query is : Resolved 

17 February 2017 deposit in the nature of colorable device means

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".

17 February 2017 Not a genuine deposit.






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