Benefit of tolerance limit of +/- 5% as contained in Section 92C (2) available even when one comparable remains in comparable set.

Benefit of tolerance limit of +/- 5% as contained in Section 92C (2) available even when one comparable remains in comparable set. https://www.taxtmi.com/article/detailed?id=11366 Section 92C(2) and its provisos permit application of the most appropriate method to determine ALP, with the first proviso prescribing averaging where multiple prices arise and the second proviso allowing the actual transaction price to be deemed the ALP if variation from the ALP "so determined" falls within the notified tolerance. The phrase "so determined" covers ALP produced both by a single comparable and by the arithmetical mean, so the tolerance benefit applies even when only one comparable remains in the comparable set. en-us Sat, 29 Apr 2023 10:28:06 +0530 Sat, 29 Apr 2023 10:28:06 +0530 TaxTMI RSS Generator Benefit of tolerance limit of +/- 5% as contained in Section 92C (2) available even when one comparable remains in comparable set. https://www.taxtmi.com/article/detailed?id=11366 Section 92C(2) and its provisos permit application of the most appropriate method to determine ALP, with the first proviso prescribing averaging where multiple prices arise and the second proviso allowing the actual transaction price to be deemed the ALP if variation from the ALP "so determined" falls within the notified tolerance. The phrase "so determined" covers ALP produced both by a single comparable and by the arithmetical mean, so the tolerance benefit applies even when only one comparable remains in the comparable set. Articles Income Tax Sat, 29 Apr 2023 10:28:06 +0530 https://www.taxtmi.com/article/detailed?id=11366