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Rule 10UB of Income Tax Rules 1962: Notice, Forms for reference under section 144BA

Rule 10UB - Notice, Forms for reference under section 144BA
(Application of General Anti Avoidance Rule)

(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.



Extra Notes for Readers:

- Rule 10UB was introduced by the Income Tax (17th Amendment) Rules, 2013, which came into force on the 1st day of April, 2016.



Reference/Source: Check at Income Tax site for latest version of the Rules - link

This page was last updated on 17th October 2016.
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