Amendment of section 92B.

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..... of doubts, it is hereby clarified that (i) the expression international transaction shall include (a) the purchase, sale, transfer, lease or use of tangible property including building, transportation vehicle, machinery, equipment, tools, plant, furniture, commodity or any other article, product or thing; (b) the purchase, sale, transfer, lease or use .....

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..... ce, repairs, design, consultation, agency, scientific research, legal or accounting service; (e) a transaction of business restructuring or reorganisation, entered into by an enterprise with an associated enterprise, irrespective of the fact that it has bearing on the profit, income, losses or assets of such enterprises at the time of the transaction or at any future date; .....

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..... , product patents, trade secrets, engineering drawing and schematics, blueprints, proprietary documentation; (f) customer related intangible assets, such as, customer lists, customer contracts, customer relationship, open purchase orders; (g) contract related intangible assets, such as, favourable supplier, contracts, licence agreements, franchise agreem .....

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..... tual content rather than its physical attributes. . - Clause 34 of the Bill seeks to amend section 92B of the Income-tax Act relating to meaning of international transaction. The existing provisions of the aforesaid section 92B provide the definition of international transaction for the purposes of the said section and sections 92, 92C, 92D and 92E. It is proposed to insert an Explanat .....

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