Revision of Advance Pricing Agreement (APA) [ Rule 10Q ]

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..... be required to file the modified return for the period after the revision of the APA within three months and the assessing officer will reassess or recompute the total income of the relevant assessment year having regard to and in accordance with the revised agreement. Situation in which revised APA An agreement, subsequent to it having been entered into, may be revised by the Board, if .....

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..... request of the assessee, the agreement shall not be revised unless an opportunity of being heard has been provided to the assessee and the assessee is in agreement with the proposed revision. [ Rule 10Q(3) ] Revised agreement may be cancelled In case the assessee is not in agreement with the proposed revision the agreement may be cancelled in accordance with rule 10R . [ Rule .....

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..... h time the return of income for A.Y. 2014-2015 has already been filed in accordance with section 139 Of the Act. The assessee is required to file the modified return for A.Y. 2014-2015 by 31 March 2015. Subsequently, the APA is revised for A.Y. 2016-2017 to 2018-2019. The revised APA is signed on 31 December 2016, by which time the return of A.Y. 2016-2017 has already been filed in accor .....

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