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Notification No. 46/2023/F. No. 500/1/2014-APA-II
Notification Date: 26th June, 2023
Applicable Date: w.e.f. 1st April 2023
Relevant Act / Rule: Income Tax 1961
Relevant Section / Rule: Section 92C(2) read with proviso to sub-rule (7) of Rule 10CA
Relevant Assessment Year: AY 2023 – 24
It has been notified that price at which International Transaction or Specified Domestic Transaction has been actually undertaken shall be considered as Arm’s Length Price for Section 92C if the variance between both the prices does not exceed as notified under following scenarios –
Wholesale Trading means an International Transaction or Specified Domestic Transaction of trading in goods, which fulfils the following conditions:
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