Transfer under section 127 requires reasons to be communicated to the assessee and recorded if objections are overruled.

Transfer under section 127 requires that Commissioners provide the Board with precise reasons and prima facie factual information justifying reassignment, including grounds such as wealth beyond known sources, inflated purchases, suppressed sales or unaccounted assets, and that objections by the assessee, if overruled, be recorded on file; these procedural requirements take effect immediately.

---

---

---