Action by the Taxpayer and the Assessing Officer on entering into an APA (Section 92CD)

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..... n APA, then within three months or entering into APA, the assessee is aquired to file a modified return in accordance with and limited to the APA. The modified return shall be deemed to be a return under section 139 and all the provisions of the Act shall apply accordingly. If the assessment or reassessment for the year's covered under APA is pending, the assessing officer is required to .....

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..... cer shall inform the TPO about the filing of modified return in respect of that transaction. This communication shall be sent immediately after filling of the modified return by the assessee with respect to such covered transaction. On receipt of such communication, the Transfer Pricing Officer shall not proceed further for auditing the covered transaction. Similarly, if the covered transaction is .....

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..... T(Appeal) by the assessee with respect to the covered transaction(s); (ii) Withdrawal of appeal filed before the ITAT/ HC/ SC by the department as well as the assessee With respect to the covered transaction(s); (iii) Withdrawal of objections filed before the DRP by the assessee with respect to the covered transaction(s) as the assessing officer would not be required to make any adjustment f .....

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