On 23 September 2013, the Central Board of Direct Taxes amended the Income Tax Rules 1962, to introduce specific rules for the "Application of the General Anti-Avoidance Rule" (the Rules). Simultaneously with the GAAR (chapter XA, sections 95-102) in the Income Tax Act 1961 (the ITA), these Rules are scheduled to come into force on 1 April 2016. The GAAR was introduced pursuant to the Finance Act …