The correct answer is option 2, which states that statement 2 only is correct.

Statement 1 is incorrect. The provisions of General Anti-Avoidance Rule (GAAR) were initially proposed to be implemented in India from 1 April 2015. However, due to concerns raised by the business community and stakeholders, the implementation was deferred multiple times. As of now, GAAR has still not been implemented in India.

Statement 2 is correct. The main objective of GAAR is to curb tax avoidance by both domestic and overseas investors. It provides the tax authorities with powers to scrutinize and deny tax benefits obtained through transactions or arrangements that are conducted with the primary purpose of obtaining tax benefits, without having any commercial substance. This is done by allowing the authorities to disregard or recharacterize such transactions for tax purposes and impose taxes accordingly.

Therefore, the option "2 only" is the correct answer.