substance over form

Substance Over Form is a principle that emphasizes the importance of the actual substance or reality of a situation rather than its outward appearance or the way it is presented. In practical terms, this means assessing the true nature and impact of an action or transaction, rather than just how it is formally structured or labeled. This concept is often applied in legal, financial, and accounting contexts to ensure that the true intentions and effects are recognized, promoting transparency and integrity over mere technical compliance. Essentially, it seeks to uncover the reality behind the facade.