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of <h1>Tax Authorities Gain Broader Powers to Challenge Artificial Transactions Under New GAAR Provisions Targeting Strategic Tax Avoidance Strategies</h1> Legal Analysis Summary:The text examines India's General Anti-Avoidance Rule (GAAR) provisions, comparing Clause 180 of the 2025 Income Tax Bill with Section 97 of the 1961 Income-tax Act. The provisions aim to empower tax authorities to disregard tax arrangements lacking genuine commercial substance. Key principles include prioritizing economic reality over legal form, targeting artificial transactions designed solely to secure tax benefits, and aligning with international tax avoidance prevention standards. The analysis highlights substantive similarities between the provisions while noting minor drafting differences that may require future judicial interpretation.
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