| 1. General Avoidance Rules |
| 2. General Anti Affect Rules |
| 3. General Anti Avoidance Rules |
| 4. General Arm Affect Rules |
A) 1 only
B) 2 only
C) 3 only
D) 1, 2 and 4
Correct Answer: C
Solution :
General Anti Avoidance Rules (GAAR) has been introduced as a very important component of Direct Tax code with the objective of preventing such deals and transactions that are carried out to evade and avoid paying taxes. In other words, GAAR seeks to prevent such transactions that are carried out by way of aggressive tax planning so as to avoid paying taxes
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