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of <h1>Judicial vs. General Anti Avoidance Rules: Tackling Tax Avoidance with Codified and Interpretative Approaches, Rs. 3 Crore GAAR Limit</h1> Judicial Anti Avoidance Rules (JAAR) and General Anti Avoidance Rules (GAAR) are measures to address tax avoidance, with JAAR being a judicial interpretation and GAAR a legislative codification. JAAR relies on judicial interpretation, emphasizing either a literal or purposive statutory view, while GAAR standardizes the approach by codifying 'substance over form.' GAAR extends the principles established in landmark Indian cases like McDowell and Vodafone, offering a broader scope by defining lack of commercial substance and setting a threshold limit of Rs. 3 crore for applicability. JAAR lacks specific thresholds, focusing on business purpose and substance over form principles.
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