public policy limitation

public-policy limitation. Tax. A judicially developed principle that a person should not be allowed to deduct expenses related to an activity that is contrary to the public welfare. • This principle is reflected in the Internal Revenue Code’s specific disallowance provisions (such as for kickbacks and bribes). [Cases: Internal Revenue 3368. C.J.S. Internal Revenue § 188.]

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词条贡献者

译员Joanne，亚洲顶尖法学院国际贸易专业，擅长翻译涉及媒体、体育和娱乐领域的法律文件。