U/s 92C(2) of IT Act 1961- Computation of arm's length price - 70/2022 - Income Tax Act, 1961

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Arm's length price tolerance treats actual transaction price as ALP where deviation falls within prescribed limits for trading. Where the difference between the arm's length price under section 92C and the actual transaction price does not exceed prescribed tolerance limits, the actual transaction price shall be deemed to be the arm's length price for the specified assessment period; a narrower tolerance applies to wholesale trading, which is defined by purchase-cost and average-monthly-closing-inventory conditions.

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Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

Provisions expressly mentioned in the judgment/order text.

Arm's length price tolerance treats actual transaction price as ALP where deviation falls within prescribed limits for trading.

Where the difference between the arm's length price under section 92C and the actual transaction price does not exceed prescribed tolerance limits, the actual transaction price shall be deemed to be the arm's length price for the specified assessment period; a narrower tolerance applies to wholesale trading, which is defined by purchase-cost and average-monthly-closing-inventory conditions.

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U/s 92C(2) of IT Act 1961- Computation of arm's length price - 70/2022 - Income Tax Act, 1961

Arm's length price tolerance treats actual transaction price as ALP where deviation falls within prescribed limits for trading.

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Arm's length price tolerance treats actual transaction price as ALP where deviation falls within prescribed limits for trading.

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