Sec. 132, 143 & 153A of Income Tax Act, 1961 – Search & Seizure – It is open to everyone to so arrange his affairs as to reduce the brunt of taxation to the minimum, tax planning may be legitimate provided, it is within the framework of law; colourable devices cannot be part of tax planning and it is wrong to encourage or entertain the belief that it is honourable to avoid the payment of tax by restoring to dubious methods. It is the obligation of every citizen to pay tax honestly without resorting to subterfuges. Courts are now concerning themselves not merely with the genuineness of a transaction, but with an intended effect of it for fiscal purposes and no one can now get away with a tax avoidance project with the mere statement that there is nothing illegal about it. Since, the modus adopted by the assessee is a device to avoid tax, High Court interfered with the order passed by the Tribunal. Appeal of the revenue allowed – PURUSHOTAMAN (M.P.) [2020] 423 ITR 248 (MAD)