1,2 (1) Notwithstanding anything contained in the Act, an arrangement entered into by an assessee may be declared to be an impermissible avoidance arrangement and the consequence in relation to tax arising therefrom may be determined subject to the provisions of this Chapter.
3 (2) This Chapter shall apply in respect of any assessment year beginning on or after the 1st day of April, 2018.
Explanation.-For the removal of doubts, it is hereby declared that the provisions of this Chapter may be applied to any step in, or a part of, the arrangement as they are applicable to the arrangement.
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1. Ins. by Act 17 of 2013, s. 26 (w.e.f. 1-4-2016).
Earlier inserted by Act 23 of 2012, s. 41 (w.e.f. 1-4-2014).
2. Section 95 renumbered as sub-section (1) thereof by Act 20 of 2015, s. 26 (w.e.f.
1-4-2015).
3. Ins. by s. 26, ibid. (w.e.f. 1-4-2015).
Section 93 Avoidance of income-tax by transactions resulting in transfer of income to non- residents
Section 94 Avoidance of tax by certain transactions in securities
Section 94B Limitation on interest deduction in certain cases
Section 95 Applicability of General Anti-Avoidance Rule
Section 96 Impermissible avoidance arrangement
Section 97 Arrangement to lack commercial substance
Section 98 Consequences of impermissible avoidance arrangement
Section 99 Treatment of connected person and accommodating party