https://www.taxtmi.com/acts?id=10885 The Board, with Central Government approval, may enter into an advance pricing agreement fixing the arm's length price for an international transaction where the prescribed method is the most appropriate, determining that price in the prescribed manner and allowing further adjustments as necessary. Such agreements are binding on the applicant, the transaction and the Commissioner and subordinate income-tax authorities for a specified duration subject to a maximum limit, cease to bind on change of law, and may be declared void ab initio by the Board for fraud or misrepresentation, with consequential application of the Code excluding the interval between agreement and voiding order. en-us Thu, 20 Aug 2009 12:50:03 +0530 Thu, 20 Aug 2009 12:50:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10885 The Board, with Central Government approval, may enter into an advance pricing agreement fixing the arm's length price for an international transaction where the prescribed method is the most appropriate, determining that price in the prescribed manner and allowing further adjustments as necessary. Such agreements are binding on the applicant, the transaction and the Commissioner and subordinate income-tax authorities for a specified duration subject to a maximum limit, cease to bind on change of law, and may be declared void ab initio by the Board for fraud or misrepresentation, with consequential application of the Code excluding the interval between agreement and voiding order. Act-Rules Bills Thu, 20 Aug 2009 12:50:03 +0530 https://www.taxtmi.com/acts?id=10885