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GAAR: General Anti-Avoidance Rules . #GAAR #GeneralAntiAvoidanceRules

  GAAR was originally proposed in the Direct Taxes Code 2010.

  It is an anti-tax avoidance regulation. As the name suggests, it is set of laws aimed at curtailing tax avoidance in general.

  GAAR is set of rules under the Income Tax Act which empowers the revenue authorities to deny tax benefits transactions or arrangements which do not have any commercial substance or consideration other than achieving the tax benefit.

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