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The Business Purpose Concept means: 1. that the economic purpose of the transaction must exceed the tax avoidance motive. 2. that the taxpayer's dominant motive
The Business Purpose Concept means:
1. that the economic purpose of the transaction must exceed the tax avoidance motive.
2. that the taxpayer's dominant motive for an expenditure is to reduce taxation.
a. Only statement 1 is correct.
b. Only statement 2 is correct.
c. Both statements are correct.
d. Neither statement is correct.
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