https://www.taxtmi.com/acts?id=16334 A new procedure permits an Assessing Officer to refer arrangements suspected to be impermissible avoidance arrangements to the Commissioner, who must notify the assessee, allow objections and hearing, and either direct invocation of Chapter X-A or refer unresolved matters to an Approving Panel. The Approving Panel, constituted by the Board, may require further inquiry, call records, and issue binding directions including specification of relevant previous years; assessments reflecting Chapter X-A consequences require prior Commissioner approval where such directions have been issued. en-us Tue, 29 May 2012 12:49:07 +0530 Tue, 29 May 2012 12:49:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=16334 A new procedure permits an Assessing Officer to refer arrangements suspected to be impermissible avoidance arrangements to the Commissioner, who must notify the assessee, allow objections and hearing, and either direct invocation of Chapter X-A or refer unresolved matters to an Approving Panel. The Approving Panel, constituted by the Board, may require further inquiry, call records, and issue binding directions including specification of relevant previous years; assessments reflecting Chapter X-A consequences require prior Commissioner approval where such directions have been issued. Act-Rules F. Acts / Amendment Acts Tue, 29 May 2012 12:49:07 +0530 https://www.taxtmi.com/acts?id=16334