- Shweta Verma
April 07, 2026
Notification No. 54/2026 [F. No. 370142/15/2026-TPL] / G.S.R. 240(E)
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Gemini said This notification, titled the Income-tax (Tenth Amendment) Rules, 2026, serves to clarify and reinforce the "grandfathering" provisions related to the General Anti-Avoidance Rule (GAAR) under the Income-tax Act, 1961. By amending Rule 10U, the government has explicitly stated that GAAR (Chapter X-A) cannot be used to challenge tax benefits or income arising from the transfer of investments made before April 1, 2017. While GAAR theoretically applies to any tax arrangement active on or after that 2017 date, this amendment creates a strict "safe harbor" for older investments, ensuring that investors are not retroactively penalized under anti-evasion laws for financial decisions made before those rules existed. Essentially, it provides legal certainty that profits from assets acquired prior to April 2017 remain protected from GAAR scrutiny regardless of when the income is actually realized.
https://www.incometaxindia.gov.in/documents/d/guest/notification-no-54-2026-pdf
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Shweta Verma
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