https://www.taxtmi.com/acts?id=15954 Amendments restrict the Central Government's power to notify permissible variation for deeming the actual transaction price as the arm's length price and clarify that this deeming applies to proceedings pending before an Assessing Officer as of the retrospective date. A new rule denies the assessee's option to select a price deviating from the arithmetical mean where deviation exceeds a prescribed threshold. A further provision prevents these rules from authorising assessments, reassessments, or liability-increasing adjustments for proceedings completed before the retrospective cutoff. en-us Fri, 16 Mar 2012 15:08:11 +0530 Fri, 16 Mar 2012 17:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15954 Amendments restrict the Central Government's power to notify permissible variation for deeming the actual transaction price as the arm's length price and clarify that this deeming applies to proceedings pending before an Assessing Officer as of the retrospective date. A new rule denies the assessee's option to select a price deviating from the arithmetical mean where deviation exceeds a prescribed threshold. A further provision prevents these rules from authorising assessments, reassessments, or liability-increasing adjustments for proceedings completed before the retrospective cutoff. Act-Rules Bills Fri, 16 Mar 2012 15:08:11 +0530 https://www.taxtmi.com/acts?id=15954