Amendment of section 92B

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..... (ii) after the words determined in substance between such other person and the associated enterprise , the words where the enterprise or the associated enterprise or both of them are non-residents irrespective of whether such other person is a non-resident or not shall be inserted. - Clause 31 of the Bill seeks to amend section 92B of the Income-tax Act relating to meaning of internat .....

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..... prior agreement in relation to the relevant transaction between the third party and associated enterprise or the terms of the relevant transaction are determined in substance between such third party and the associated enterprise. It is proposed to amend the said sub-section (2) so as to provide that the relevant transaction shall be deemed to be an international transaction, where t .....

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