Retrospective indirect-transfer scrutiny: prior committee approval now required before assessing action, with taxpayer opportunity and directions. A High Level Committee constituted by the Board will pre-screen all fresh cases invoking the 2012 retrospective amendments on indirect transfer where income is said to arise before 1 April 2012; Assessing Officers must seek the Committee's prior approval, the taxpayer will be afforded an opportunity, the Committee will issue time-bound directions, and will submit periodic reports to the Board.