The general anti avoidance rule is a retrograde step

The World According to Garp was a bestselling novel written by John Irving. In the book Irving famously wrote: 'In the world according to Garp, we are all terminal cases.' The rupee is once again taking a dive, as capital flows out of the stock market. In an institutionally driven market, foreign institutional investors (FIIs) get the heebie-jeebies when policy mavens unveil new laws. It borders on a kerfuffle, in fact, when the new laws impact FII transactions.

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