Income-tax amendment narrows associate enterprise definition for Chapter VIII transactions, aligning applicability of specified related-party provisions effective April 2026.

The amendment substitutes clause (c) of sub section (2) of section 162 to treat "other units, undertakings, enterprises or business of such assessee, or other person referred to in section 140(13)" as associates in respect of transactions referred to in Chapter VIII where the provisions of section 140(9) or (13) or the corresponding provisions of the earlier Income tax Act apply, and removes the reference to section 144.

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