When can an agreement be declared as 'Impermissible Avoidance Agreement' under The Income Tax Act, 1961?

As per section 96 of the Income Tax Act, 1961, the Income Tax Commissioner will be empowered to declare an arrangement as an 'Impermissible Avoidance Arrangement' if: It creates rights, or obligations, which are not ordinarily created between persons dealing at arm's length; or It results, directly or indirectly, in the misuse, or abuse, of the provisions of this Act; or It lacks commercial substance or is deemed to lack commercial substance under section 97, in whole or in part; or It is entered into, or carried out, by means, or in a manner, which are not ordinarily employed for bona fide purposes.