Sham transaction definition

Sham transaction means a transaction or series of transactions without economic substance because there is no business purpose or expectation of profit other than obtaining tax benefits.
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Sham transaction means:
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Sham transaction means a transaction or series of transactions without economic substance because there is no
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Examples of Sham transaction in a sentence

  • Sham transaction doctrine Sham transactions are those in which the economic activity that is purported to give rise to the desired tax benefits does not actually occur.

  • The application included a number of variations to LPP6. Consideration of this item identified that a number of aspects of LPP6 may require review.

  • Sham transaction or device rules have been adopted to preclude the use of safe harbors when the substance of the transaction or device is not accurately reflected by the form.

  • Sham transaction – transaction that never occurred but is represented by the taxpayer as having occurred.

  • The ld AR submitted that the transaction as entered into between the joint venture partners was not a sham as the Sham transaction involves concealing true nature and reality of transactions and is a subterfuge to offset against another transaction which is not apparent in the books.

  • Training and education play an important role in the operation, organised on the basis of defined projects and programmes.


More Definitions of Sham transaction

Sham transaction means the following:‐
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Related to Sham transaction

  • Merger Transaction means any merger, acquisition or similar transaction involving a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act.

  • Factoring Transaction means any transaction or series of transactions that may be entered into by the Borrower or any Restricted Subsidiary pursuant to which the Borrower or such Restricted Subsidiary may sell, convey, assign or otherwise transfer Securitization Assets (which may include a backup or precautionary grant of security interest in such Securitization Assets so sold, conveyed, assigned or otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred) to any Person other than a Receivables Subsidiary.

  • Alternative Transaction means the sale, transfer, lease or other disposition, directly or indirectly, including through an asset sale, stock sale, merger or other similar transaction, of all or substantially all of the Purchased Assets in a transaction or a series of transactions with one or more Persons other than Purchaser (or its Affiliates).

  • Bundled transaction means the purchase of 2 or more distinct and identifiable products, except real property and services to real property, where the products are sold for a single nonitemized price. A bundled transaction does not include the sale of any products in which the sales price varies, or is negotiable, based on the selection by the purchaser of the products included in the transaction. As used in this subdivision: