Taxman will not play policeman, FM assures India Inc

Finance minister Pranab Mukherjee on Sunday assured India Inc that income tax (I-T) officials would not be allowed to act as policemen. The assurance came amid apprehensions that tax commissioners would have powers to arrest industrialists or company officials under new provisions of the General Anti-Avoidance Rule (GAAR) after retrospective amendments to the Income Tax Act.

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