https://en.bharatpedia.org/w/index.php?action=history&feed=atom&title=Shome_Panel 2026-10-20T10:49:43Z Revision history for this page on the wiki MediaWiki 1.43.6 https://en.bharatpedia.org/w/index.php?title=Shome_Panel&diff=75835&oldid=prev 2020-05-26T04:01:18Z

<p>{{context|date=December 2012}}→{{India-econ-stub}}. This stubby article needs to add contents first, rather than tweaking for context</p> <p><b>New page</b></p><div><br /> The &#039;&#039;&#039;Shome Panel&#039;&#039;&#039; is responsible for constituting guidelines for [[General anti-avoidance rule (India)|General Anti Avoidance Rules]] (GAAR) in India. The panel was established by [[Manmohan Singh|Dr. Manmohan Singh]] and headed by [[economist]] Parthasarathi Shome. <br /> <br /> == About ==<br /> The committee has said that the retrospective application of [[tax law]] should happen in the rarest of rare cases and for one of three reasons only: <br /> <br /> # To correct anomalies in the statute.<br /> # To matters that are clarificatory in nature such as technical/procedural defects that vitiate the substantive law.<br /> # To protect the tax base from abusive tax planning schemes to [[tax avoidance|avoid tax]]. <br /> <br /> The panel has recommend deferring GAAR.&lt;ref&gt;[http://www.thehindu.com/opinion/editorial/shome-panels-wrong-call/article4003142.ece Shome panel’s wrong call]. The Hindu (2012-10-17). Retrieved on 2014-01-11.&lt;/ref&gt;&lt;ref&gt;[http://articles.economictimes.indiatimes.com/2012-10-11/news/34387419_1_report-card-parthasarathi-shome-indirect-transfers GAAR: Parthasarathi Shome committee’s report card – Economic Times]. Articles.economictimes.indiatimes.com (2012-10-11). Retrieved on 2014-01-11.&lt;/ref&gt;<br /> <br /> == References ==<br /> {{reflist}}<br /> <br /> {{India-econ-stub}}<br /> [[Category:Ministry of Finance (India)]]<br /> [[Category:Taxation in India]]<br /> [[Category:Income taxes]]</div>

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