Ben Elliott and Louis Triggs‘ article in Tax Journal looks at the Inco principle. This permits courts to correct obvious drafting errors in certain circumstances. Whilst in the past Inco has rarely been applied to tax legislation, it has been successfully invoked in four cases in the last year.
The growing complexity of tax legislation and the courts’ greater willingness to apply Inco may therefore make the principle increasingly important in tax disputes.
You can read a copy on the Tax Journal website which allows non-subscribers to access the article free of charge by registering on the Tax Journal website.
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