GAAR v. TAAR: India and UK Experience
by Aastha Suman* and Ishaan Sharma**
General Anti-Avoidance Rules
Colourable devices cannot be part of tax planning; obligation of every citizen to pay taxes honestly: Telangana HC
The Court stated that due to the non-obstante clause in Chapter X-A i.e., the General Anti-Avoidance Rules (‘GAAR’), its provisions get an overriding effect over and above the other existing provisions of law.
Reporting requirements under Clauses 30-C and 44 of Tax Audit Report to be kept in abeyance till 31-03-2019
Order under Section 119 of the Income-Tax Act, 1961 Section 44 AB of the Income-Tax Act, 1961 (‘the Act’) read with Rule