Advance Pricing Agreement is applicable only for the specified period not exceeding five consecutive previous years: ITAT [Read Order]

Advance Pricing Agreement - ITAT - taxscan

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the Advance Pricing Agreement is applicable only for the specified period not exceeding five consecutive previous years u/s.92CC(4) r.w. sub section (9A) of the Income Tax Act,1961.   The Revenue challenged the correctness of the CIT(A)’s action reversing assessment findings making Transfer Pricing…

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