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judicial doctrine |
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| It is adaptive, flexible and practical, while building on judicial doctrine to improve legally defensible decision making. Although economic substance, business purpose and sham transaction represent three separate judicial doctrines, courts often meld them into a single theory when analyzing a particular transaction. Almost all governments--and the federal government in particular--have refrained from codifying a judicial doctrine heavily reliant on the facts and circumstances established in a court proceeding. |
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