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of <h1>Finance Bill 2012 amends Income-tax Act section 80A to redefine 'market value' in domestic transactions as arm's length price.</h1> Clause 23 of the Finance Bill, 2012 amends section 80A of the Income-tax Act, specifically sub-section (6), to redefine 'market value' for goods or services involved in specified domestic transactions. The amendment stipulates that 'market value' will be considered as the arm's length price, as defined in section 92F(ii), for transactions referred to in section 92BA. This change is effective from April 1, 2013, and applies to the assessment year 2013-2014 and subsequent years.
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