Explain in brief whether in the following independent cases, will GAAR provisions apply. (ii) A fund claims treaty benefits in respect of gains from derivatives in one year and in another year set-off losses from derivat
CS Professional · Advanced Direct Tax Laws and Practice · PYQS · June 2026
Explain in brief whether in the following independent cases, will GAAR provisions apply. (ii) A fund claims treaty benefits in respect of gains from derivatives in one year and in another year set-off losses from derivatives transactions against gains from shares under the Act.
Answer & Explanation:
GAAR provisions are applicable to an impermissible avoidance arrangement u/s 96. In so far as the admissibility of claim under treaty or domestic law in different year is concerned, it is not a matter to be decided through GAAR provisions.
Topics: General Anti-Avoidance Rule (GAAR)
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