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of <h1>Tax Authorities Gain Expanded Powers to Challenge Transactions Lacking Commercial Substance Under Clause 181 of Income Tax Bill</h1> Legal Analysis Summary:The text examines Clause 181 of the Income Tax Bill, 2025, which continues and refines the General Anti-Avoidance Rule (GAAR) framework. The provision empowers tax authorities to neutralize tax benefits from arrangements lacking commercial substance or primarily designed to obtain tax advantages. It allows authorities to disregard, recharacterize, or reconstruct transactions, treating connected parties as one entity and reallocating tax attributes. The clause maintains substantial similarity with previous legislation while providing comprehensive powers to counter aggressive tax planning strategies.
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