(16)The Chairperson of the Approving Panel shall be a person who is or has been a judge of a High Court, and -(i)one member shall be a member of Indian Revenue Service not below the rank of [Principal Chief Commissioner or Chief Commissioner] [Substituted by Act 25 of 2014, section 4, for 'Commissioner' (w.e.f. 1-6-2013).] of Income-tax; and(ii)one member shall be an academic or scholar having special knowledge of matters, such as direct taxes, business accounts and international trade practices.
