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of <h1>Section 95 allows tax authorities to treat any taxpayer arrangement as impermissible avoidance under GAAR and adjust tax consequences.</h1> Section 95 empowers tax authorities to treat any arrangement entered into by a taxpayer as an impermissible avoidance arrangement and to determine tax consequences under the General Anti-Avoidance Rule (GAAR) irrespective of other provisions of the Act. The Chapter's rules apply to assessment years beginning on or after 1 April 2018. The provision clarifies that GAAR may be applied to the whole arrangement or to any step or part of it, allowing targeted disregard or recharacterisation of transactions designed to obtain tax benefits.
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