Advance Pricing Agreement obligation: file a modified return reflecting the APA and authorities must align assessments accordingly. Section 92CD mandates that a person who enters into an advance pricing agreement after filing a return must furnish, within three months from the end of ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Advance Pricing Agreement obligation: file a modified return reflecting the APA and authorities must align assessments accordingly.
Section 92CD mandates that a person who enters into an advance pricing agreement after filing a return must furnish, within three months from the end of the month of the agreement, a modified return limited to the agreement; all provisions of the Act apply to the modified return as if filed under section 139. If assessment or reassessment was completed before the modified return deadline, the Assessing Officer shall modify the total income of that assessment in accordance with the agreement; if proceedings are pending, they shall be completed taking the agreement and modified return into account. The section prescribes a one-year period for the modifying order and extends limitation for pending proceedings by twelve months.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.