https://www.taxtmi.com/manuals?id=4441 Section 274 establishes a GAAR procedure for identifying Impermissible Avoidance Arrangements and determining Chapter XI tax consequences. The Assessing Officer may refer a matter to the Principal Commissioner or Commissioner after giving the assessee notice of the arrangement, tax benefit, reasons, statutory grounds, and supporting evidence. The Commissioner must provide notice and a hearing, and unresolved objections require reference to the Approving Panel. The Panel may investigate, hear the assessee and Assessing Officer, specify applicable tax years, and issue binding directions that cannot be appealed. The Assessing Officer must follow those directions, and prior approval is required before passing an assessment or reassessment order involving Chapter XI consequences. en-us Tue, 23 Jan 2024 17:20:00 +0530 Tue, 14 Jul 2026 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4441 Section 274 establishes a GAAR procedure for identifying Impermissible Avoidance Arrangements and determining Chapter XI tax consequences. The Assessing Officer may refer a matter to the Principal Commissioner or Commissioner after giving the assessee notice of the arrangement, tax benefit, reasons, statutory grounds, and supporting evidence. The Commissioner must provide notice and a hearing, and unresolved objections require reference to the Approving Panel. The Panel may investigate, hear the assessee and Assessing Officer, specify applicable tax years, and issue binding directions that cannot be appealed. The Assessing Officer must follow those directions, and prior approval is required before passing an assessment or reassessment order involving Chapter XI consequences. Manuals Income Tax Tue, 23 Jan 2024 17:20:00 +0530 https://www.taxtmi.com/manuals?id=4441