https://www.taxtmi.com/article/detailed?id=15696 Substance over form requires courts to prioritise the economic substance and parties' intention over labels and to read contracts as a whole; the business efficacy test is subordinate and cannot override clear express terms. Tax statutes, however, require strict construction: substantial compliance excuses only non material failures and cannot cure breach of mandatory evidentiary conditions for exemptions. Legislatures can validate past action by retrospective law but must remove the legal basis of judicial invalidity rather than merely displacing court decisions. en-us Sat, 03 Jan 2026 12:58:49 +0530 Sat, 03 Jan 2026 12:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15696 Substance over form requires courts to prioritise the economic substance and parties' intention over labels and to read contracts as a whole; the business efficacy test is subordinate and cannot override clear express terms. Tax statutes, however, require strict construction: substantial compliance excuses only non material failures and cannot cure breach of mandatory evidentiary conditions for exemptions. Legislatures can validate past action by retrospective law but must remove the legal basis of judicial invalidity rather than merely displacing court decisions. Articles Goods and Services Tax - GST Sat, 03 Jan 2026 12:58:49 +0530 https://www.taxtmi.com/article/detailed?id=15696