98. (1) If an arrangement is declared to be an impermissible avoidance arrangement, then, the consequences, in relation to tax, of the arrangement, including denial of tax benefit or a benefit under a tax treaty, shall be determined, in such manner as is deemed appropriate, in the circumstances of the case, including by way of but not limited to the following, namely:\u2014<\/p>\n
(a) disregarding, combining or recharacterising any step in, or a part or whole of, the impermissible avoidance arrangement;<\/p>\n
(b) treating the impermissible avoidance arrangement as if it had not been entered into or carried out;<\/p>\n
(c) disregarding any accommodating party or treating any accommodating party and any other party as one and the same person;<\/p>\n
(d) deeming persons who are connected persons in relation to each other to be one and the same person for the purposes of determining tax treatment of any amount;<\/p>\n
(e) reallocating amongst the parties to the arrangement\u2014<\/p>\n
(i) any accrual, or receipt, of a capital nature or revenue nature; or<\/p>\n
(ii) any expenditure, deduction, relief or rebate;<\/p>\n
(f) treating\u2014<\/p>\n
(i) the place of residence of any party to the arrangement; or<\/p>\n
(ii) the situs of an asset or of a transaction,<\/p>\n
at a place other than the place of residence, location of the asset or location of the transaction as provided under the arrangement; or<\/p>\n
(g) considering or looking through any arrangement by disregarding any corporate structure.<\/p>\n
(2) For the purposes of sub-section (1),\u2014<\/p>\n
(i) any equity may be treated as debt or vice versa;<\/p>\n
(ii) any accrual, or receipt, of a capital nature may be treated as of revenue nature or vice versa; or<\/p>\n
(iii) any expenditure, deduction, relief or rebate may be recharacterised.<\/p>\n","protected":false},"excerpt":{"rendered":"
98. (1) If an arrangement is declared to be an impermissible avoidance arrangement, then, the [\u2026]<\/span><\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3062,446],"tags":[],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3827"}],"collection":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/comments?post=3827"}],"version-history":[{"count":0,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3827\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media?parent=3827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/categories?post=3827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/tags?post=3827"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/yst_prominent_words?post=3827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}