26 C.F.R. § 1.269-2 Purpose and Scope of Section 269

• Library: Code of Federal Regulations
• Edition: 2023
• Currency: Current through December 31, 2023
• Citation: 26 C.F.R. § 1.269-2
• Year: 2023

(a)General. Section 269 is designed to prevent in the instances specified therein the use of the sections of the Internal Revenue Code providing deductions, credits, or allowances in evading or avoiding Federal income tax. See §1.269-3.

(b)Disallowance of deduction, credit, or other allowance. Under the Code, an amount otherwise constituting a deduction, credit, or other allowance becomes unavailable as such under certain circumstances. Characteristic of such circumstances are those in which the effect of the deduction, credit, or other allowance would be to distort the...