9911796707
TMI BlogReference to Transfer Pricing Officer.X X X X Extracts X X X X X X X X Extracts X X X X ..... ction shall be made, if the Transfer Pricing Officer has declared that option exercised by the assessee in sub-section (9) in relation to such transaction is valid for such tax year. (3) If any reference for an international transaction or a specified domestic transaction under sub-section (1), in respect of a tax year, for which the option is declared valid under sub-section (9) is made before or after such declaration by the Transfer Pricing Officer, the provisions of sub-section (1) shall have the effect as if no reference is made for such transaction. (4) Where a reference is made under sub-section (1), the Transfer Pricing Officer shall serve a notice on the assessee requiring him to produce or cause to be produced on a date specifie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de at any time before sixty days before the expiry of limitation period referred to in section 286, or 296, for making the order of assessment or reassessment or recomputation or fresh assessment. (8) If the period of limitation available to the Transfer Pricing Officer for making an order under sub-section (6) is less than sixty days in the circumstances referred to in section 286(3)(b) or (i) ,such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to have been extended accordingly. (9) The arm's length price, being determined in relation to the international transaction or the specified domestic transaction under sub-section (6) for any tax year shall apply to similar international t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the provisions of section 288. (13) For rectifying any mistake apparent from the record, the Transfer Pricing Officer,-- (a) may amend any order passed by him under sub-section (6), and the provisions of section 287 shall, so far as may be, apply accordingly; and (b) shall send a copy of such order to the Assessing Officer who shall thereafter amend the order of assessment in conformity with such order of the Transfer Pricing Officer. (14) The Transfer Pricing Officer may exercise all or any of the powers specified in section 246(1)(a) to (d) or 252(1)(a) or 253 for the purposes of determining the arm's length price under this section. (15) If any difficulty arises in giving effect to the provisions of sub-sections (9) and (12), the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
