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[Cites 0, Cited by 0] [Section 206(1)] [Section 206] [Entire Act]

Union of India - Subsection

Section 206(1)(i) in The Income Tax Act, 2025

(i)In the case of an assessee being a company, where––
(i)there is an increase in book profit of the tax year due to income of past year or years included in the book profit on account of––
(A)an advance pricing agreement entered into by the assessee under section 168; or
(B)a secondary adjustment required to be made under section 170; and
(ii)the assessee has not utilised the credit of tax paid under this sub-section in any subsequent tax year under clauses (m), (n), (o) and (p),the Assessing Officer shall, on an application made to him in this behalf by the assessee,––
(I)recompute the book profit of the past year or years and tax payable under this sub-section, if any, by the assessee during the tax year in such manner, as may be prescribed; and
(II)the provisions of section 287 shall, so far as may be, apply and the period of four years specified in sub-sections (7) and (8) of that section shall be reckoned from the end of the tax year in which the said application is received by the Assessing Officer.