Transaction definition broadly covers arrangements, understandings or concerted actions irrespective of formality under income tax law. Section 92F(v) of the Income-tax Act defines Transaction as including an arrangement, understanding or action in concert, whether or not formal or in ... Summary
Transaction definition broadly covers arrangements, understandings or concerted actions irrespective of formality under income tax law.
Section 92F(v) of the Income-tax Act defines Transaction as including an arrangement, understanding or action in concert, whether or not formal or in writing, and whether or not intended to be enforceable by legal proceedings, for the purposes of the transfer pricing provisions in sections 92 to 92E.
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