Are Advance Pricing Agreements (APAs) on the upswing? In recent months, the Central Board of Direct Taxes has released its fourth and fifth annual reports in quick succession on the APA programme, interestingly including information on Mutual Agreement Procedures (MAP). Here is an engaging conversation between experts Sobhan Kar (Senior Advisor, Deloitte India) and Tarun Arora (Partner, Deloitte India), decoding these APA and MAP reports and sharing their valuable insights on the trends and what these reports indicate.