Tax Law: Power To Ignore Certain Transactions

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In the realm of tax law, certain transactions can be disregarded by the tax authorities if they are deemed to be non-genuine or structured to avoid tax liabilities. This program provides an in-depth exploration of the legal provisions and practical applications under Section 140 of the tax code.


  1. To provide a detailed understanding of the legal framework and specific conditions under which transactions can be ignored by tax authorities under Section 140.
  2. o equip participants with the skills to prepare and present details of adjustments required under Subsection 140(5).
  3. To analyze and interpret the special circumstances outlined in Subsection 140(6) that justify ignoring certain transactions.


  1. Gain the knowledge and skills to ensure transactions and tax declarations comply with the legal requirements, thereby minimizing the risk of audits and penalties.
  2. Make informed decisions about transaction structures.
  3. Knowledge of how tax authorities view and handle certain transactions gives participants a strategic advantage in planning and executing business operations, leading to more effective tax management and planning.