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Income-tax Act, 1961

Section - 98 - Consequences of impermissible avoidance arrangement

Consequences of impermissible avoidance arrangement.

98. (1) If an arrangement is declared to be an impermissible avoidance arrangement, then, the consequences, in relation to tax, of the arrangement, including denial of tax benefit or a benefit under a tax treaty, shall be determined, in such manner as is deemed appropriate, in the circumstances of the case, including by way of but not limited to the following, namely:-

(a)- disregarding, combining or recharacterising any step in, or a part or whole of, the impermissible avoidance arrangement;
(b)- treating the impermissible avoidance arrangement as if it had not been entered into or carried out;
(c)- disregarding any accommodating party or treating any accommodating party and any other party as one and the same person;
(d)- deeming persons who are connected persons in relation to each .... To read the full section download the app from Google Play store

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