Except the General Anti Avoidance Rule flatly contradicts that.
The GAAR takes the spirit of the law into consideration when considering whether the law has been broken.
The Ramsey Principle (first stated with respect to a case governing circular transactions) also raises the spirit of the tax law being superior to the strict rules based interpretation.
The GAAR takes the spirit of the law into consideration when considering whether the law has been broken.
The Ramsey Principle (first stated with respect to a case governing circular transactions) also raises the spirit of the tax law being superior to the strict rules based interpretation.