Income Tax Ordinance, 2001

CHAPTER-VIII

ANTI-AVOIDANCE

From: 2023-07-01 - To: 0000-00-00 (1) For the purposes of determining liability to tax under this Ordinance, the Commissioner may- (a) recharacterise a transaction or an element of a transaction that was entered into as part of a tax avoidance scheme; (b) disregard a transaction that does not have substantial economic effect; 1[***] (c) recharacterise a transaction where the form of the transaction does not reflect the substance 2[;] 3[(d) from tax year…