Amendment of section 155.

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..... fied domestic transaction under sub-section (3) of section 92CA for any previous year and the Transfer Pricing Officer has declared that an option exercised by the assessee is valid under sub-section (3B) of the said section in respect of such transaction for two consecutive previous years immediately following such previous year, the Assessing Officer shall proceed to recompute the total income o .....

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..... r sub-section (1) of section 143, for the said two consecutive previous years is not made within the said three months, such recomputation shall be made within three months from the end of the month in which such order of assessment or any intimation or deemed intimation under sub-section (1) of section 143, as the case may be, is made.". - Clause 45 of the Bill seeks to amend section 155 of th .....

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..... tion 143,-- (i) in conformity with the arm's length price so determined by the Transfer Pricing Officer under sub-section (4A) of section 92CA in respect of such transaction; (ii) taking into account the directions issued under sub-section (5) of section 144C, if any, for such previous year, within three months from the end of the month in which the assessment is completed in the case of the as .....

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