(6)The Approving Panel, on receipt of a reference from the [Principal Commissioner or Commissioner] [Substituted by Act 25 of 2014, section 4, for 'Commissioner' (w.e.f. 1-6-2013).] under sub-section (4), shall issue such directions, as it deems fit, in respect of the declaration of the arrangement as an impermissible avoidance arrangement in accordance with the provisions of Chapter X-A including specifying of the previous year or years to which such declaration of an arrangement as an impermissible avoidance arrangement shall apply.
