https://www.taxtmi.com/highlights?id=59782 Tax planning versus Tax evasion - The Assessing Officer cannot disregard a transaction just because it results in a tax advantage to the assessee. Just as much as we cannot legitimize and glorify tax evasion through colourable devices and tax shelters, we cannot also deprecate and disapprove genuine tax planning within the framework of law. The line of demarcation between what is permissible tax planning and what turns into impermissible tax avoidance may be somewhat thin, but that cannot be excuse enough for the tax authorities to err on the side of excessive caution. - AT en-us Wed, 22 Sep 2021 13:26:49 +0530 Wed, 22 Sep 2021 13:26:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59782 Tax planning versus Tax evasion - The Assessing Officer cannot disregard a transaction just because it results in a tax advantage to the assessee. Just as much as we cannot legitimize and glorify tax evasion through colourable devices and tax shelters, we cannot also deprecate and disapprove genuine tax planning within the framework of law. The line of demarcation between what is permissible tax planning and what turns into impermissible tax avoidance may be somewhat thin, but that cannot be excuse enough for the tax authorities to err on the side of excessive caution. - AT Highlights Income Tax Wed, 22 Sep 2021 13:26:49 +0530 https://www.taxtmi.com/highlights?id=59782