Advance pricing agreement procedure governs consultation, inquiry, draft agreement, closure timelines, and non-refundable fees. Procedure for processing an application once it has been allowed to proceed requires consultation with the applicant and may include meetings, requests for additional information, visits to business premises, and other inquiries. Unilateral agreements are intended, where possible, to be completed within one year from the end of the relevant financial year, while bilateral or multilateral agreements involve forwarding the application for assignment, enquiry, and preparation of a draft report. The agreement is entered into after approval, subject to closure rules where no agreement is reached within the prescribed time limits, and any fee paid is not refundable if proceedings are closed.
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.
Provisions expressly mentioned in the judgment/order text.
Procedure for processing an application once it has been allowed to proceed requires consultation with the applicant and may include meetings, requests for additional information, visits to business premises, and other inquiries. Unilateral agreements are intended, where possible, to be completed within one year from the end of the relevant financial year, while bilateral or multilateral agreements involve forwarding the application for assignment, enquiry, and preparation of a draft report. The agreement is entered into after approval, subject to closure rules where no agreement is reached within the prescribed time limits, and any fee paid is not refundable if proceedings are closed.
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