Computation of income from international transaction and specified domestic transaction having regard to arm’s length price.

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..... ength price. 161. (1) Any income arising from an international transaction or a specified domestic transaction shall be determined having regard to the arm's length price. (2) Any allowance for any expense or interest arising from an international transaction or a specified domestic transaction shall also be determined having regard to the arm's length price. (3) If in an international transact .....

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..... ) or (2) or (3) has the effect of reducing the income chargeable to tax or increasing the loss, computed on the basis of entries made in the books of account in respect of the tax year in which the international transaction or specified domestic transaction was entered. - Clause 161 of the Bill provides for computation of income from international transaction and specified domestic transaction .....

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