Unilateral APA limits MAP benefit and requires Board approval, signature by ITR signatory, and rule compliance. The Board, with Central Government approval, may enter into a unilateral APA with an assessee upon receipt of a mutually agreed draft; the APA must be ... Summary
Unilateral APA limits MAP benefit and requires Board approval, signature by ITR signatory, and rule compliance.
The Board, with Central Government approval, may enter into a unilateral APA with an assessee upon receipt of a mutually agreed draft; the APA must be signed by the person competent to sign the income tax return and conform to the specified APA rules; DGIT(IT) must send a copy to the jurisdictional commissioner; a unilateral APA precludes MAP benefit for the covered transactions.
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