https://www.taxtmi.com/acts?id=16593 Assessing Officer must refer arrangements believed to be impermissible avoidance arrangements to the Principal Commissioner or Commissioner, who shall issue a reasoned notice for objections and may direct declaration if no objections are furnished; if objections are not accepted, the Commissioner refers the matter to an Approving Panel. The Approving Panel, composed of a judicial Chairperson, a senior revenue member and an academic, issues binding directions under Chapter X-A after providing opportunity to be heard, may order further inquiries and call records, and its directions are final and binding on the assessee and tax authorities. en-us Thu, 31 May 2012 12:32:56 +0530 Tue, 01 Jul 2025 12:21:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=16593 Assessing Officer must refer arrangements believed to be impermissible avoidance arrangements to the Principal Commissioner or Commissioner, who shall issue a reasoned notice for objections and may direct declaration if no objections are furnished; if objections are not accepted, the Commissioner refers the matter to an Approving Panel. The Approving Panel, composed of a judicial Chairperson, a senior revenue member and an academic, issues binding directions under Chapter X-A after providing opportunity to be heard, may order further inquiries and call records, and its directions are final and binding on the assessee and tax authorities. Act-Rules Income Tax Thu, 31 May 2012 12:32:56 +0530 https://www.taxtmi.com/acts?id=16593