TMI BlogSecondary adjustment - Section 92CEX X X X Extracts X X X X X X X X Extracts X X X X ..... justment, thereby removing the imbalance between cash account and actual profit of the assessee. Cases where secondary adjustment has to be made - Section 92CE requires assessee to carry out secondary adjustment where the primary adjustment to transfer price,- (i) has been made suo moto 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 pricing agreement entered into by the assessee u/s 92CC , on or after the 1st day of April, 2017 (iv) is made as per the safe harbour rules framed u/s 92CB ; (v) is arising as a result of resolution of an assessment by way of the mutual agreement procedure under an agreement entered into unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oney or part thereof shall be on or before 90 days from the date given in column (3) in the case mentioned in column (2) of the table and Interest thereon to be levied to make it part of income of the assessee on such deemed advance to AE and the period from which interest is chargeable on the excess money or part thereof which is not repatriated in such case is given in column (4). [ Rule 10CB(1) (3) ] S.No. Case Date Period (1) (2) (3) (4) (i) Where primary adjustments to transfer price has been made suo-moto by the assessee in his return of income from the due date of filing of return u/s 139(1) from the due date of filing of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y adjustment to transfer price is determined by such resolution under a Double Taxation Avoidance Agreement entered into under section 90 or section 90A from the date of giving effect by the Assessing Officer under rule 44H (this rule has been omitted w.e.f. 06-05-2020) to the resolution arrived at under mutual agreement procedure (MAP) from the date of giving effect by the Assessing Officer under rule 44H (this rule has been omitted w.e.f. 06-05-2020) to the resolution arrived at under mutual agreement procedure (MAP) Rate of Interest for the purpose of Computation on interest on excess money or part thereof, if not repatriated within the prescribed time u/s 92CE(1) [ Rule 10CB(2) ] ..... X X X X Extracts X X X X X X X X Extracts X X X X
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