Tax alert: GAAR can take precedence over SAAR


12 June 2024

The Telangana High Court, based on the facts of the case, has held that the transactions under consideration do not qualify as permissible under tax laws and therefore, the provisions of Chapter X-A of the Income-tax Act, 1961 (ITA) dealing with General Anti-Avoidance Rules (GAAR), would become applicable.

Did you find this useful?