Per Vimal Gandhi, President. - The President, Income-tax Appellate Tribunal vide order dated 17-10-2006 and 6-11-2006 constituted the present Special Bench to dispose of the captioned appeals as well as to adjudicate the following questions of law :

"1. Whether, it is a legal requirement under the provisions of Chapter-X of the Income-tax Act, 1961 that the Assessing Officer should prima facie demonstrate that there is tax avoidance before invoking the relevant provisions and if so, what is the degree of proof required to be brought on record by him?

2. Whether, before making a reference to the Transfer Pricing Officer under section 92C(3) read with section 92CA(1), is it a condition precedent that the Assessing Officer shall provide an opportunity of being heard to the assessee ?

3. Is the approval granted by the Commissioner of Income-tax under section 92CA(1) justifiable ? If so, can it be called in question in appeal on the ground that it was accorded without due diligence or application of mind ?

4. What is the legal effect of Instruction No. 3 of 2003 issued by the Central Board of Direct Taxes on Transfer Pricing proceedings ?"

2. At the suggestion of the learned counsel fo