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Notification No.: 116/2024/F. No. 500/1/2014-APA-II, S.O. 4571(E)
Notification Date: 18th October 2024
Relevant Act/Rule : Income Tax 1961
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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