¹[(1) If any person takes or tries to take any tax benefit, through any scheme, by misinterpreting or misusing any of the provisions of this Act, then the Commissioner may, after giving such taxpayer an opportunity of being heard, in specified cases and manners, pass such reasonable order for assessing the accuracy, determination, negation or curtailment of tax benefit and fix the responsibility of the beneficiary as if the particular proposal was not accepted or not made effective.]

(2) For the purposes of this section, “Scheme” includes any proceeding, agreement, arrangement, promise, plan, proposal or actions, whether expressed or implied or whether or not legally enforceable.