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Income-tax (Third Amendment) Rules 2015.

Income Tax - 23/2015 - Dated:- 14-3-2015 - [TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Notification No. 23/2015 New Delhi, the 14th day of March, 2015 INCOME-TAX S.O. 758(E).- In exercise of the powers conferred by sub-sections (9) and(9A) of section 92CC read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes he .....

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inserted, namely :- (ha) rollback year means any previous year, falling within the period not exceeding four previous years, preceding the first of the previous years referred to in sub-section (4) of section 92CC; ; (b) in rule10 H, in sub-rule (1),- (i) for the word Every the word Any shall be substituted; (ii) for the word shall the word may shall be substituted; (c) in rule 10 I, for the words, figures and letter who has entered into a prefiling consultation as referred to in rule 10H , the .....

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ent may provide for determining the arm s length price or specify the manner in which arm s length price shall be determined in relation to the international transaction entered into by the person during the rollback year (hereinafter referred to as rollback provision ). (2) The agreement shall contain rollback provision in respect of an international transaction subject to the following, namely:- (i)the international transaction is same as the international transaction to which the agreement (o .....

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e said international transaction has been undertaken by the applicant; and (v) the applicant has made an application seeking rollback in Form 3CEDA in accordance with sub-rule (5); (3) Notwithstanding anything contained in sub-rule (2), rollback provision shall not be provided in respect of an international transaction for a rollback year, if,- (i) the determination of arm s length price of the said international transaction for the said year has been subject matter of an appeal before the Appel .....

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rollback year then such manner shall be the same as the manner which has been agreed to be provided for determination of arm s length price of the same international transaction to be undertaken in any previous year to which the agreement applies, not being a rollback year. (5) The applicant may, if he desires to enter into an agreement with rollback provision, furnish along with the application, the request for the same in Form No. 3 CEDA with proof of payment of an additional fee of five lakh .....

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before the 31st day of March, 2015 and, notwithstanding anything contained in rule 10 Q, the agreement may be revised to provide for rollback provision in the said agreement in accordance with this rule. ; (g) in rule 10 R, in sub-rule (1), in clause (iv), after the words, brackets, figures and letter under sub-rule (4) of rule 10Q , the words, brackets, figures and letters or sub-rule (7) of rule 10 RA shall be inserted; (h) after rule 10 R, the following rule shall be inserted, namely:- Proce .....

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ule(2) shall be furnished along with the modified return to be furnished in respect of first of the previous years for which the agreement has been requested for in the application. (4) If any appeal filed by the applicant is pending before the Commissioner (Appeals), Appellate Tribunal or the High Court for a rollback year, on the issue which is the subject matter of the rollback provision for that year, the said appeal to the extent of the subject covered under the agreement shall be withdrawn .....

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he case may be, within three months of filing of modified return by the applicant. (6) The applicant, the Assessing Officer or the Principal Commissioner or the Commissioner, shall inform the Dispute Resolution Panel or the Commissioner (Appeals) or the Appellate Tribunal or the High Court, as the case may be, the fact of an agreement containing rollback provision having been entered into along with a copy of the same as soon as it is practicable to do so. (7) In case effect cannot be given to t .....

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f. whether any rollback request is being made Yes/No g. If yes, enclose copy of relevant Form No. 3CEDA. ; (C) after Form No. 3CED, following Form shall be inserted, namely: - Form No. 3 CEDA (See sub-rule (5) of rule 10 MA) Application for rollback of an Advance Pricing Agreement To, The Competent Authority of India or Director General of Income Tax (International Taxation) New Delhi Sir/Madam, This is to state that.............................. (Name of the Applicant)......wishes to negotiate .....

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entatives who would be appearing before the authorities for negotiations of the APA: 2. Whether pre-filing discussions in respect of rollback were sought by the applicant? If yes, please furnish: (a) Date of application for pre-filing meeting: (b) Date of pre-filing meeting(s) with the APA Team: 3. Whether application in Form 3CED is being filed simultaneously: 4. Details of international transaction(s) including Name(s) of the Associated Enterprises in respect of which rollback is requested for .....

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