BUSINESS-PURPOSE DOCTRINE

By SovConn | May 5, 2015

business-purpose doctrine.Tax. The principle that a transaction must serve a bona fide business purpose (i.e., not just for tax avoidance) to qualify for beneficial tax treatment. [Cases: Internal Revenue  3071, 3315, 3396. C.J.S. Internal Revenue §§ 13–14, 151.][Blacks Law 8th]

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