Tax-benefit arrangement review requires detailed assessee notice, prescribed forms, Commissioner satisfaction, and panel reference documentation. The Assessing Officer must notify the assessee before referring an arrangement for consideration of Chapter XI, providing details of the arrangement, tax ... Summary
The Assessing Officer must notify the assessee before referring an arrangement for consideration of Chapter XI, providing details of the arrangement, tax benefit, reasons for treating tax benefit as its main purpose, reasons supporting the specified statutory conditions, and relied-upon evidence. The reference is made in Form No. 62. The Commissioner records satisfaction and issues directions in Form No. 63, or refers the matter to an Approving Panel in Form No. 64 after obtaining any required factual report and submitting supporting documents in four sets in Hindi or English.
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