Specified domestic transaction definition narrowed, excluding certain related party payments from automatic arm's length computation. The amendment omits clause (i) of section 92BA, removing payments above the statutory monetary threshold from the automatic definition of specified domestic transaction and excluding expenditures paid or payable to persons covered by clause (b) of subsection (2) of section 40A from the scope of section 92BA, thereby relieving those payments from mandatory computation under the arm's length principle as per the amended provision.
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Provisions expressly mentioned in the judgment/order text.
Specified domestic transaction definition narrowed, excluding certain related party payments from automatic arm's length computation.
The amendment omits clause (i) of section 92BA, removing payments above the statutory monetary threshold from the automatic definition of specified domestic transaction and excluding expenditures paid or payable to persons covered by clause (b) of subsection (2) of section 40A from the scope of section 92BA, thereby relieving those payments from mandatory computation under the arm's length principle as per the amended provision.
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