Section 95 of Income Tax Act – Power of tax authority to declare an arrangement as an impermissible avoidable arrangement
Section 95 of the IT Act, 1961, empowers the tax authority, to declare an arrangement as an impermissible avoidable arrangement. Tax authority has also power to declare a step in, or a part of, the arrangement as impermissible avoidable arrangement. The tax authority, to declare an arrangement as an impermissible avoidable arrangement overrides all other provisions contained in the Income Tax Act, 1961.
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