Insertion of new section 92BA.

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..... sections 92, 92C, 92D and 92E, specified domestic transaction in case of an assessee means any of the following transactions, not being an international transaction, namely: (i) any expenditure in respect of which payment has been made or is to be made to a person referred to in clause (b) of sub-section (2) of section 40A; (ii) any transaction refer .....

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..... fied domestic transaction. The proposed new section 92BA provides for meaning of specified domestic transaction with reference to which the income is computed under section 92 having regard to arm s length price. This amendment will take effect from 1st April, 2013 and will, accordingly, apply in relation to assessment year 2013-2014 and subsequent assessment years. - statute, statutory .....

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