General anti-avoidance rule applicability: arrangements and constituent steps can be treated as impermissible for tax consequence determination. The General Anti-Avoidance Rule permits declaration of an arrangement as impermissible and determination of tax consequences under the Chapter; it applies to any assessment year from its commencement and may be applied to any step or part of an arrangement. 'Arrangement' includes any step, transaction, operation, scheme, agreement or understanding, including alienation of property. Examples differentiate lawful reliance on SEZ incentives, misrepresentation constituting evasion, profit diversion subject to transfer pricing, and business shifting governed by the SEZ-specific provision.