The Economic Times

Global investors against use of judicial anti-avoidance rule by tax officials

International investors have raised concerns regarding the Indian Income-tax authorities' invocation of the judicial anti-avoidance rule. At a recent meeting, investors communicated their issues with the Central Board of Direct Taxes on this matter. The use of JAAR to deny relief on grandfathered shares contradicts prior regulations established by the CBDT. The standing of both GAAR and JAAR remains complex due to Supreme Court rulings.