https://www.taxtmi.com/manuals?id=4434 An arrangement lacks commercial substance under Section 97(1)(a) when the substance or effect of the arrangement is inconsistent with, or significantly differs from, the form of its steps; Clause (a) codifies the substance v. form doctrine, requiring tax consequences to be assessed on the real substance, and permitting tax authorities to unravel devices and determine the true legal relations when form masks substance. en-us Fri, 19 Jan 2024 18:58:00 +0530 Tue, 23 Jan 2024 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4434 An arrangement lacks commercial substance under Section 97(1)(a) when the substance or effect of the arrangement is inconsistent with, or significantly differs from, the form of its steps; Clause (a) codifies the substance v. form doctrine, requiring tax consequences to be assessed on the real substance, and permitting tax authorities to unravel devices and determine the true legal relations when form masks substance. Manuals Income Tax Fri, 19 Jan 2024 18:58:00 +0530 https://www.taxtmi.com/manuals?id=4434