https://www.taxtmi.com/article/detailed?id=12173 The Substance over form doctrine requires taxation authorities to assess the economic substance of transactions over their legal labels, permitting recharacterisation where arrangements are artificial or lack commercial substance to prevent tax avoidance. Courts have both applied and limited the doctrine: some decisions reclassify transactions and scrutinise dominant purpose, while others emphasise that taxing statutes must be applied according to their clear terms. Statutory codification through GAAR enables disregard of form for "impermissible avoidance arrangements" lacking commercial substance; its invocation requires proof of tax-motivated purpose and absence of genuine business purpose. en-us Wed, 27 Dec 2023 09:44:19 +0530 Wed, 27 Dec 2023 09:44:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12173 The Substance over form doctrine requires taxation authorities to assess the economic substance of transactions over their legal labels, permitting recharacterisation where arrangements are artificial or lack commercial substance to prevent tax avoidance. Courts have both applied and limited the doctrine: some decisions reclassify transactions and scrutinise dominant purpose, while others emphasise that taxing statutes must be applied according to their clear terms. Statutory codification through GAAR enables disregard of form for "impermissible avoidance arrangements" lacking commercial substance; its invocation requires proof of tax-motivated purpose and absence of genuine business purpose. Articles Goods and Services Tax - GST Wed, 27 Dec 2023 09:44:19 +0530 https://www.taxtmi.com/article/detailed?id=12173