Gameskraft does not raise the question of whether clarificatory amendments are constitutionally permissible. They are, and this article does not argue otherwise. The issue is the absence of any rigorous gatekeeping before the label is applied.

From the author’s point of view, the judgment shows how the tax laws evolve in India, addressing the needs of the increasingly sophisticated long-term business transactions.

With elimination of unreasonable retrospective tax regime, India could inspire trust in the regulatory and tax framework among investors.

This piece delves into the intricate facets of BCCI v. Dy. Commissioner of Income Tax.

Per author, VDA transactions should be treated either under capital gains or as business income, as applicable.

Author analyzes the confrontational approach of tax authorities towards foreign investment in India, focusing on the principle purpose test.