https://www.taxtmi.com/caselaws?id=761191 An omitted transfer pricing provision, absent a saving clause, is treated as having ceased to operate, so proceedings and references founded solely on that clause cannot survive merely because the assessment year preceded the omission. The commentary also states that transfer pricing adjustment under Chapter X is confined to international transactions and arm's length pricing, and cannot be extended to independent dealings with non-associated enterprises. The subject matter is thus the survival of omitted statutory provisions and the permissible scope of transfer pricing adjustments. en-us Mon, 14 Oct 2024 00:00:00 +0530 Tue, 05 Nov 2024 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761191 An omitted transfer pricing provision, absent a saving clause, is treated as having ceased to operate, so proceedings and references founded solely on that clause cannot survive merely because the assessment year preceded the omission. The commentary also states that transfer pricing adjustment under Chapter X is confined to international transactions and arm's length pricing, and cannot be extended to independent dealings with non-associated enterprises. The subject matter is thus the survival of omitted statutory provisions and the permissible scope of transfer pricing adjustments. Case-Laws Income Tax Mon, 14 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761191