Arm's length price - Definition / Legal Terminology - Income Tax

As per section 92F (ii) of the Income tax Act 1961, In sections 92, 92A, 92B, 92C, 92D and 92E, unless the context otherwise requires,- Arm's length price means- a price which is applied or proposed to be applied in a transaction between persons other than associated enterprises, in uncontrolled conditions;