The Shome Panel is responsible for constituting guidelines for General Anti Avoidance Rules (GAAR) in India. The panel was established by

Dr. Manmohan Singh Manmohan Singh (; born 26 September 1932) is an Indian politician, economist and statesman who served as the 13th prime minister of India from 2004 to 2014. He is also the third longest-serving prime minister after Jawaharlal Nehru and Indir ...

and headed by

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

Parthasarathi Shome.

About

The committee has said that the retrospective application of

tax law Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a ...

should happen in the rarest of rare cases and for one of three reasons only: # To correct anomalies in the statute. # To matters that are clarificatory in nature such as technical/procedural defects that vitiate the substantive law. # To protect the tax base from abusive tax planning schemes to avoid tax. The panel has recommend deferring GAAR.GAAR: Parthasarathi Shome committee’s report card – Economic Times
Articles.economictimes.indiatimes.com (2012-10-11). Retrieved on 2014-01-11.

References

{{India-econ-stub Ministry of Finance (India) Taxation in India Income taxes