10UB. Notice, Forms for reference under section 144BA.
(1)For the purposes of sub-section (1) of section 144BA, the Assessing Officer shall, before making a reference to the Commissioner, issue a notice in writing to the assessee seeking objections, if any, to the applicability of provisions of Chapter X-A in his case.(2)The notice referred to in sub-rule (1) shall contain the following:-(i)details of the arrangement to which the provisions of Chapter X-A are proposed to be applied;(ii)the tax benefit arising under the arrangement;(iii)the basis and reason for considering that the main purpose of the identified arrangement is to obtain tax benefit;(iv)the basis and the reasons why the arrangement satisfies the condition provided in clause (a), (b), (c) or (d) of sub-section (1) of section 96; and(v)the list of documents and evidence relied upon in respect of (iii) and (iv) above.(3)The reference by the Assessing Officer to the Commissioner under sub-section (1) of section 144BA shall be in Form No. 3CEG.(4)Where the Commissioner is satisfied that the provisions of Chapter X-A are not required to be invoked with reference to an arrangement after considering-(i)the reference received from the Assessing Officer under sub-section (1) of section 144BA; or(ii)the reply of the assessee in response to the notice issued under sub-section (2) of section 144BA,he shall issue directions to the Assessing Officer in Form No. 3CEH.(5)Before a reference is made by the Commissioner to the Approving Panel under sub-section (4) of section 144BA, he shall record his satisfaction regarding the applicability of the provisions of Chapter X-A in Form No. 3CEI and enclose the same with the reference.
