Transfer Pricing Officer powers extended to permit revision of transfer pricing orders and fresh order directions. The amendment extends section 263 revision powers to the Transfer Pricing Officer, making orders that modify, cancel or direct fresh orders under the transfer pricing assessment mechanism subject to revision; it also adds Transfer Pricing Officer orders to Explanation 1 and inserts an Explanation defining Transfer Pricing Officer by reference to the transfer pricing provision.
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Provisions expressly mentioned in the judgment/order text.
Transfer Pricing Officer powers extended to permit revision of transfer pricing orders and fresh order directions.
The amendment extends section 263 revision powers to the Transfer Pricing Officer, making orders that modify, cancel or direct fresh orders under the transfer pricing assessment mechanism subject to revision; it also adds Transfer Pricing Officer orders to Explanation 1 and inserts an Explanation defining Transfer Pricing Officer by reference to the transfer pricing provision.
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