https://www.taxtmi.com/news?id=4523 The Committee recommends limiting GAAR to arrangements whose main purpose is to obtain a tax benefit, inserting a statutory definition of commercial substance, confining GAAR consequences to impermissible parts of arrangements, deferring implementation by three years with a pre-announced effective year, prescribing a Rs. 3 crore monetary threshold (tax only, present-value for deferral), grandfathering existing investments (not arrangements), strengthening AAR and procedural safeguards, constituting an independent five-member Approving Panel, and ensuring SAAR or treaty anti-abuse provisions prevail over GAAR for covered aspects. en-us Mon, 14 Jan 2013 15:07:58 +0530 Wed, 11 Feb 2026 15:56:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=4523 The Committee recommends limiting GAAR to arrangements whose main purpose is to obtain a tax benefit, inserting a statutory definition of commercial substance, confining GAAR consequences to impermissible parts of arrangements, deferring implementation by three years with a pre-announced effective year, prescribing a Rs. 3 crore monetary threshold (tax only, present-value for deferral), grandfathering existing investments (not arrangements), strengthening AAR and procedural safeguards, constituting an independent five-member Approving Panel, and ensuring SAAR or treaty anti-abuse provisions prevail over GAAR for covered aspects. News - Mon, 14 Jan 2013 15:07:58 +0530 https://www.taxtmi.com/news?id=4523