Amendment of section 40A.

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..... le having regard to the fair market value, shall be made in respect of a specified domestic transaction referred to in section 92BA, if such transaction is at arm s length price as defined in clause (ii) of section 92F. ; (ii) in clause (b), in sub-clause (iv), after the words or any relative of such director, partner or member , the words or any other company carrying on business or profession in .....

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..... om, so much of expenditure as is so considered by him to be excessive or unreasonable shall not be allowed as deduction. It is proposed to amend the aforesaid clause so as to provide that no disallowance under this clause, on account of any expenditure being excessive or unreasonable having regard to the fair market value, shall be made in respect of a specified domestic transaction referred to in .....

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