https://www.taxtmi.com/acts?id=15977 A procedure requires an Assessing Officer who considers Chapter X-A applicable to refer the matter to the Commissioner. The Commissioner, if satisfied, must give the assessee notice and an opportunity to object; absent objections he may issue binding directions declaring an arrangement an impermissible avoidance arrangement. If objections are not accepted, the Commissioner refers the case to an Approving Panel, which may direct declaration, specify applicable previous years, call for inquiries or documents, and issue binding directions that Assessing Officers and Commissioners must follow; Panel decisions are by majority and subject to a six-month limitation. en-us Fri, 16 Mar 2012 16:09:38 +0530 Fri, 16 Mar 2012 17:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15977 A procedure requires an Assessing Officer who considers Chapter X-A applicable to refer the matter to the Commissioner. The Commissioner, if satisfied, must give the assessee notice and an opportunity to object; absent objections he may issue binding directions declaring an arrangement an impermissible avoidance arrangement. If objections are not accepted, the Commissioner refers the case to an Approving Panel, which may direct declaration, specify applicable previous years, call for inquiries or documents, and issue binding directions that Assessing Officers and Commissioners must follow; Panel decisions are by majority and subject to a six-month limitation. Act-Rules Bills Fri, 16 Mar 2012 16:09:38 +0530 https://www.taxtmi.com/acts?id=15977