Law and Practice Relating to General Anti Avoidance Rules (GAAR)
Note : The book "Law and Practice Relating to General Anti Avoidance Rules (GAAR)" consists of 16 Chapters. Law stated in this book is as amended upto 10th April, 2017.
Description
A Veritable Section-Wise Commentary on the General Anti-Avoidance Rules (GAAR) as re-enacted by the Finance Act, 2013, incorporating Parthasarathi Shome Report and also a study of Specific Avoidance Rules under the Income- tax Act and under a tax treaty and a study of judge-made rules relating to avoidance of tax such as - economic substance; sham transaction; business purpose; step transaction; and substance —over form transactions, explained with help of decisions of the courts from India, Canada, South Africa, Australia, the UK and the USA. The book consists of 16 Chapters dealing with :
- Various concepts surrounding the concept of tax avoidance and tax evasion, the concept of GAAR, background and general principles, their overriding effect;
- Applicability of the GAAR;
- Impermissible avoidance arrangement;
- Arrangement lacking commercial substance;
- Consequences of impermissible avoidance arrangement;
- Treatment of connected and accommodating party;
- Framing of guidelines by the Government;
- Explaining various expressions as defined in the Act;
- Procedure and reference to the Commissioner/Principal Commissioner.
| Chapter No | Chapter name |
|---|---|
| Chapter: 1 | GAAR - Introduction |
| Chapter: 2 | GAAR - OVERVIEW |
| Chapter: 3 | JUDGE - MADE TAX AVOIDANCE DOCTRINES |
| Chapter: 4 | STATUTE BASED - GENERAL AND SPECIFIC TAX AVOIDANCE RULES |
| Chapter: 5 | TAX TREATIES – GENERAL AVOIDANCE RULES |
| Chapter: 6 | Treaty override |
| Chapter: 7 | GAAR - GENERAL PRINCIPLES |
| Chapter: 8 | APPLICABILITY |
| Chapter: 9 | IMPERMISSIBLE AVOIDANCE ARRANGEMENTS |
| Chapter: 10 | Arrangement lacking commercial substance |
| Chapter: 11 | Consequences |
| Chapter: 12 | CONNECTED PERSONS AND ACCOMMODATING PARTY |
| Chapter: 13 | GAAR - APPLICATION |
| Chapter: 14 | FRAMING GUIDELINES |
| Chapter: 15 | DEFINITION |
| Chapter: 16 | PROCEDURE |
| Appendix: 1 | Relevant sections of Income-tax Act, 1961 |
| Appendix: 2 | Relevant Rules and Forms of Income-tax Rules, 1962 |
| Appendix: 3 | Draft guidelines regarding implementation of General Anti Avoidance Rules (GAAR) in terms of section 101 of the Income-tax Act, 1961 |
| Appendix: 4 | Consultation document on UK’s GAAR |
| Appendix: 5 | Final Report on General Anti Avoidance Rules (GAAR) in Income-tax Act, 1961 |
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