Rule 10R(6) — the law in short
What the courts have decided on section Rule 10R(6), in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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s.92CC(7) to (9) — APA declared void ab initio
CBDT Circulars & InstructionsHelps department
The Board says my advance pricing agreement was obtained by misrepresentation. What can it actually do, and what happens to the years the agreement covered?
Section 92CC(7) allows the Board, with the approval of the Central Government, to declare an advance pricing agreement void ab initio by an order, on one ground and one ground only — that the agreement was obtained by the person by fraud or misrepresentation of facts. Section 92CC(8) then applies the Act to him as if the agreement had never been entered into, and takes the whole stretch between the date of the agreement and the date of the s.92CC(7) order out of every period of limitation in the Act, with a proviso lifting whatever is left to sixty days. Rule 10R(6) requires the order declaring the agreement void to be in writing and to give reasons, including reasons for not accepting the assessee's submissions.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.
