Income-tax (Amendment) Rules, 2003

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.... the following rules further to amend the Income-tax Rules, 1962, namely:-- 1. (1) 1[These rules may be called the Income-tax (Second Amendment) Rules, 2003.]. (2) They shall come into force on the date of their publication in the Official Gazette. 2. (a) In the Income-tax Rules, 1962, after Part IXB, the following Part shall be inserted, namely:-- 'PART IX-C MUTUAL AGREEMENT PROCEDURE ....

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....ction taken by any income-tax authority in India, the Competent Authority in India shall call for and examine the relevant records with a view to give his response to the competent authority of the country outside India. (2) The Competent Authority in India shall endeavour to arrive at a resolution of the case in accordance with such agreement. (3) The resolution arrived at under mutual agreemen....

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....decision taken under mutual agreement procedure in the manner provided under the Income-tax Act, 1961 (43 of 1961), or the rules made thereunder to the extent that they are not contrary to the resolution arrived at. Explanation.--For the purposes of rules 44G and 44H, "Competent Authority of India" shall mean an officer authorised by the Central Government for the purposes of dischargin....