(1)An agreement shall be cancelled by the Board for any of the following reasons:(i)the compliance audit referred to in rule 10P has resulted in the finding of failure on the part of the assessee to comply with the terms of the agreement;(ii)the assessee has failed to file the annual compliance report in time;(iii)the annual compliance report furnished by the assessee contains material errors; or(iv)the agreement is to be cancelled under sub-rule (4) of rule 10Q or sub-rule (7) of rule 10RA.
