https://www.taxtmi.com/acts?id=17800 The General Anti-Avoidance Rule permits an arrangement or any step to be declared an impermissible avoidance arrangement if its main purpose is to obtain a tax benefit, including where it creates non arm's length rights or obligations, results in misuse or abuse of the Act, lacks commercial substance (including round trip financing or use of an accommodating party), or is carried out by means not ordinarily employed for bona fide purposes; consequences include disregarding, recharacterising or reallocating steps, parties, amounts, residence or situs, and treating connected persons or accommodating parties as one. en-us Tue, 14 May 2013 14:15:19 +0530 Tue, 18 Nov 2025 11:13:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17800 The General Anti-Avoidance Rule permits an arrangement or any step to be declared an impermissible avoidance arrangement if its main purpose is to obtain a tax benefit, including where it creates non arm's length rights or obligations, results in misuse or abuse of the Act, lacks commercial substance (including round trip financing or use of an accommodating party), or is carried out by means not ordinarily employed for bona fide purposes; consequences include disregarding, recharacterising or reallocating steps, parties, amounts, residence or situs, and treating connected persons or accommodating parties as one. Act-Rules F. Acts / Amendment Acts Tue, 14 May 2013 14:15:19 +0530 https://www.taxtmi.com/acts?id=17800