Retro immunity as bad as retro tax

The Government’s decision to not only put off GAAR (General Anti Avoidance Rules) to April 1, 2015, but to make the regime innately pliable deserves condemnation. It is amazing that those who took up cudgels for Vodafone and sprang to its defence saying that retrospective amendment to tax is unfair, have not uttered a word against the Government’s decision to grandfather the agreements entered into before April 1, 2010.

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