ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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General Anti-Avoidance Rule in Income Tax Law

The fierce opposition to the General Anti-Avoidance Rule proposed in the Union Budget for 2011-12 was mainly because it shifted the burden of proof to the taxpayer and because tax offi cials were perceived to have been granted too much discretionary power. Backing down, the finance minister subsequently announced amendments to address these issues and the provisions are to apply from 1 April 2014, a year later than originally proposed.

Principles

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