APA Takes Off - But will it end Tax Gloom?

The CBDT has signed the first few Advance Pricing Agreements (APA) on Monday i.e. March 31. Few countries have managed to sign APA in the first year of introduction of APA provisions. Does fast track APA signing hint a shift in Revenue's approach from aggressive to more collaborative, non-adversarial mode? Will it help in lifting the 'tax gloom' and boosting foreign investors' confidence? Will APA turn out to be the 'magic wand' that will reduce the monstrous tax litigations running into billions of dollars? 

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