https://www.taxtmi.com/news?id=3265 The Bill inserts a statutory General Anti-Avoidance Rule (GAAR) enabling authorities to declare arrangements impermissible where a main purpose is obtaining a tax benefit, to disregard, combine or recharacterise steps or parties, and to determine tax consequences by reallocation or treatment of residence, situs or character of amounts; it also introduces an Approving Panel and Commissioner-led procedure for binding directions. Concurrently, transfer pricing scope is extended to specified domestic transactions, a statutory Advance Pricing Agreement regime is created, and expanded documentation, reporting, penalty and assessment-time provisions are imposed for transfer-pricing and disclosure failures. en-us Fri, 11 May 2012 14:58:14 +0530 Wed, 11 Feb 2026 15:56:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3265 The Bill inserts a statutory General Anti-Avoidance Rule (GAAR) enabling authorities to declare arrangements impermissible where a main purpose is obtaining a tax benefit, to disregard, combine or recharacterise steps or parties, and to determine tax consequences by reallocation or treatment of residence, situs or character of amounts; it also introduces an Approving Panel and Commissioner-led procedure for binding directions. Concurrently, transfer pricing scope is extended to specified domestic transactions, a statutory Advance Pricing Agreement regime is created, and expanded documentation, reporting, penalty and assessment-time provisions are imposed for transfer-pricing and disclosure failures. News - Fri, 11 May 2012 14:58:14 +0530 https://www.taxtmi.com/news?id=3265