alleryStart learning →Under GAAR, which section lists when an arrangement is deemed to lack commercial substance?
ASection 98
BSection 100
CSection 95
DSection 97
Answer & Solution
Correct answer: D. Section 97
Section 97 lists the situations, such as round trip financing and accommodating parties, in which commercial substance is deemed missing.
Keep practising Anti-avoidance Provisions
Browse all Anti-avoidance Provisions questions for CA Final, or explore more Taxation topics.
Related questions
Accounting substance over form shows economic reality, not just:Which BEPS tool is easy to create without moving assets, functions or personnel?Which asset type is described as the raw material of tax avoidance in BEPS planning?BEPS Action 12 deals with disclosure of what?Which payments do multinationals use to erode a higher-tax base?Base erosion and profit shifting involves moving profits from higher-tax to:For US CFC purposes, a US Shareholder owns at least what share of the foreign corporation?Under US rules, a foreign corporation is a CFC if more than what share is owned by US Shar