https://www.taxtmi.com/news?id=17329 Guidance defines when GAAR under Chapter X A of the Income Tax Act will not apply, including where foreign investment jurisdiction or transaction method is driven by non tax commercial considerations and tax benefit is not the main purpose; where prior court sanction explicitly considered tax implications; where Authority for Advance Rulings or PCIT/CIT/Approving Panel previously found the arrangement permissible with unchanged facts. Grandfathering under the Rules is available for certain investments made before the effective date. Application of GAAR requires two stage vetting: initial PCIT/CIT review and final Approving Panel headed by a High Court judge. en-us Fri, 27 Jan 2017 16:26:50 +0530 Fri, 27 Jan 2017 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17329 Guidance defines when GAAR under Chapter X A of the Income Tax Act will not apply, including where foreign investment jurisdiction or transaction method is driven by non tax commercial considerations and tax benefit is not the main purpose; where prior court sanction explicitly considered tax implications; where Authority for Advance Rulings or PCIT/CIT/Approving Panel previously found the arrangement permissible with unchanged facts. Grandfathering under the Rules is available for certain investments made before the effective date. Application of GAAR requires two stage vetting: initial PCIT/CIT review and final Approving Panel headed by a High Court judge. News - Fri, 27 Jan 2017 16:26:50 +0530 https://www.taxtmi.com/news?id=17329