General Anti Avoidance Rule applicability modified to target specified future assessment years, clarifying prospective application and renumbering provision. Section 95, which allows treating arrangements as impermissible avoidance arrangements with consequences determined under Chapter X-A, is renumbered as ... Summary
General Anti Avoidance Rule applicability modified to target specified future assessment years, clarifying prospective application and renumbering provision.
Section 95, which allows treating arrangements as impermissible avoidance arrangements with consequences determined under Chapter X-A, is renumbered as sub section (1) and a new sub section (2) is inserted to provide that Chapter X-A shall apply only in respect of assessment years beginning on or after a specified future assessment year.
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