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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 92 Revised: Compute Income from International Transactions at Arm's Length Price; Prevents Taxable Income Reduction.</h1> Section 92 of the Income-tax Act has been replaced to address the computation of income from international transactions based on the arm's length price. Income, expenses, or interest from such transactions must be computed with regard to this price. When associated enterprises mutually agree on cost allocation for benefits, services, or facilities, these costs must also align with the arm's length price. However, these provisions do not apply if they result in reducing taxable income or increasing losses based on the previous year's accounting entries.
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