Procedure for giving effect to rollback provision of an Agreement (advance pricing agreement)

Steps.

• The applicant furnishes a modified return under section 169 for each rollback year to which the agreement applies, with proof of payment of any additional tax computed under the rollback provision (sub-rule 2), together with the modified return for the first of the tax years for which the agreement was requested (sub-rule 3).
• An appeal pending for a rollback year before the Commissioner (Appeals), the Appellate Tribunal or the High Court on the issue covered is withdrawn by the applicant to that extent before the modified return is furnished (sub-rule 4).
• An appeal pending before the Appellate Tribunal or the High Court filed by the Assessing Officer or the Commissioner on that issue is withdrawn by them to that extent within three months of the modified return being filed (sub-rule 5).
• The applicant, Assessing Officer or Commissioner informs the Dispute Resolution Panel, Commissioner (Appeals), Appellate Tribunal or High Court of the agreement, with a copy, as soon as practicable (sub-rule 6).
• If effect cannot be given for any rollback year because of the applicant's failure, the agreement is cancelled (sub-rule 7).