In a ruling handed down May 6, 2013, Canada's Federal Court of Appeal ordered that portions of a Crown pleading be struck out on Monday for suggesting that a tax deduction may be disallowed on the basis that the conduct of the taxpayer in incurring the expense was egregious or repulsive.
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The country has overseen better audit procedures and demonstrated commitment to acting as a 'regional leader' on international tax matters, the OECD said
Authors from Khaitan & Co evaluate the recent CBDT notification, whereby legacy investments made by investors continue to be exempt from the applicability of GAAR
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