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Statutory Provisions

Home Acts & Rules Bill Bills DIRECT TAXES CODE, 2010 Chapters List Chapter XI SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX CLAUSES This

Clause 125 - Presumption of purpose. - DIRECT TAXES CODE, 2010

DIRECT TAXES CODE, 2010
Chapter XI
SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX CLAUSES
  • Contents

Presumption of purpose.

125. (1) An arrangement shall be presumed to have been entered into, or carried out, for the main purpose of obtaining a tax benefit unless the person obtaining the tax benefit proves that obtaining the tax benefit was not the main purpose of the arrangement.

(2)An arrangement shall be presumed to have been entered into, or carried out, for the main purpose of obtaining a tax benefit, if the main purpose of a step in, or part of, the arrangement is to obtain a tax benefit, notwithstanding the fact that the main purpose of the whole arrangement is not to obtain a tax benefit.

 
 
 
 

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