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According to the amendment, cases where GAAR was invoked prior to March 31, 2026, fall outside its scope. However, it remains to be seen how Indian income-tax authorities will deal with such cases, write tax law experts Bijal Ajinkya and Viraj Doshi of Khaitan & Co.
In a welcome move bringing much-needed clarity to India’s tax anti-avoidance framework, the Central Board of Direct Taxes (CBDT) has amended the income-tax provisions specifying that income from investments made before April 1, 2017, will not fall under the ambit of the General Anti-Avoidance Rules (GAAR). This clarification resolves a long-standing ambiguity that had investors concerned, particularly following recent judicial developments.
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