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Insertion of new section 92CE. - Secondary adjustment in certain cases.

Clause 42 - DIRECT TAXES - Income-tax - Bill - Clause 42 - Insertion of new section 92CE. 42. After section 92CD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely:- Secondary adjustment in certain cases. 92CE. (1) Where a primary adjustment to transfer price,- (i) has been made suo motu by the assessee in his return of income; (ii) made by the Assessing Officer has been accepted by the assessee; (iii) is determined by an advance pr .....

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evious year does not exceed one crore rupees; and (ii) the primary adjustment is made in respect of an assessment year commencing on or before the 1st day of April, 2016. (2) Where, as a result of primary adjustment to the transfer price, there is an increase in the total income or reduction in the loss, as the case may be, of the assessee, the excess money which is available with its associated enterprise, if not repatriated to India within the time as may be prescribed, shall be deemed to be a .....

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