https://www.taxtmi.com/article/detailed?id=6351 Splitting composite contracts to fragment taxable income is assessed under the Ramsay Principle, which allows courts to regard a pre-ordained series of transactions as a single composite transaction and to disregard inserted steps lacking independent commercial purpose other than tax avoidance; where such pre-ordination and lack of business effect are established, the court may collapse the series and tax the substantive result. en-us Wed, 22 Jul 2015 06:31:06 +0530 Wed, 29 Jun 2016 18:33:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6351 Splitting composite contracts to fragment taxable income is assessed under the Ramsay Principle, which allows courts to regard a pre-ordained series of transactions as a single composite transaction and to disregard inserted steps lacking independent commercial purpose other than tax avoidance; where such pre-ordination and lack of business effect are established, the court may collapse the series and tax the substantive result. Articles Income Tax Wed, 22 Jul 2015 06:31:06 +0530 https://www.taxtmi.com/article/detailed?id=6351