(6)The Approving Panel, on receipt of a reference from the Principal Commissioner or Commissioner under sub-section (4), shall––(a)issue such directions, as it deems fit, in respect of the declaration of the arrangement as an impermissible avoidance arrangement as per the provisions of Chapter XI; and(b)specify the tax year or years to which such declaration of an arrangement as an impermissible avoidance arrangement shall apply.
