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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Assessing Officers Can Refer Arm's Length Price Calculations to Transfer Pricing Officers Under Section 92CA of Income-tax Act.</h1> Section 92CA of the Income-tax Act, introduced by the Finance Act, 2002, allows an Assessing Officer to refer the computation of arm's length price for international transactions to a Transfer Pricing Officer (TPO) with the Commissioner's approval. The TPO issues a notice to the assessee to produce evidence supporting their price computation. After reviewing the evidence, the TPO determines the arm's length price and informs both the Assessing Officer and the assessee. The Assessing Officer then computes the assessee's total income based on this determination. The TPO can amend orders to correct mistakes, and has specific investigative powers under the Act.
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