Compliance Audit of The Agreement [ Rule 10P ]

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..... tion of the critical assumptions and consistency of the application of the TPM. The TPO having the jurisdiction over the assessee shall carry out the compliance audit of the agreement for each of the year covered in the agreement. [ Rule 10P(1) ] The Transfer Pricing Officer may require - ( i ) the assessee to substantiate compliance with the terms of the agreement, including s .....

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..... of failure on part of assessee to comply with terms of agreement and cancellation of the agreement is required. [ Rule 10P(4) ] The compliance audit report shall be furnished by the TPO within six months from the end of the month in which the Annual Compliance Report referred to in rule 10-O is received by the TPO. [ Rule 10P(5) ] The regular audit of the covered transactions shall no .....

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