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(i) In McDowell 154 ITR 148, the Court nowhere said that every action or inaction on the part of the tax payer which results in reduction of tax liability to which he may be subjected to in the future, is to be viewed with suspicion and be treated as a device for avoidance of tax irrespective of legitimacy or genuineness of the act.
(ii) The effect of Azadi Bachao Andolan 263 ITR 706 is that an act which is otherwise valid in law cannot be treated as non est merely on the basis of some underlying motive supposedly resulting in some economic detriment or prejudice to the national interests, as perceived by the AO.
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[…] the law on whether Azadi Bachao Andolan can prevail against McDowell vs. CTO 159 ITR 148 (SC), see CIT vs. Lazor Syntex & CIT vs. Akshay Textiles Trading (Bombay High Court). Posted in All Judgements, Supreme Court […]