Why is it equity is not ground for tax exemption?

Equity is not typically a ground for tax exemption because tax laws are designed to ensure a fair and consistent application of tax liabilities across different entities and individuals. Tax exemptions are usually based on specific criteria, such as charitable status or non-profit activities, rather than the concept of equity, which can be subjective and vary widely. This approach helps maintain a stable revenue system and prevents potential abuses that might arise from subjective interpretations of equity.