Section 95:
Applicability of General Anti-Avoidance Rule.
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.
Notes:
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).