Rule 10UB - Notice, Forms for reference under section 144BA - Income-tax Rules, 1962

1 [Notice, Forms for reference under section 144BA 10UB. (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.] ---------------------- Notes:- 1. Inserted vide Notification No. 75/2013, dated day of 23 th September, 2013 w.e.f. 1st day of April, 2016