The Court was persuaded by the intended purpose of the statute, due process arguments, and the legislative history. (dimuro.com)
It is contrary to the fundamental salutary purpose of that statute... Mann apparently believes Steyn should be penalized not only for having the temerity to challenge Mann's views on this vital public interest issue, but also for standing up for his right to do so... (steynonline.com)
The primary purpose of the statute providing for like - kind exchanges of property has always been to permit taxpayers to maintain investments in property without being taxed on theoretical (i.e «paper») gains and losses during the course of a continuous investment. (1031taxreform.com)