https://www.taxtmi.com/acts?id=49164 Assessing Officers may refer determination of the arm's length price for international or specified domestic transactions to a Transfer Pricing Officer with prior approval; the Transfer Pricing Officer issues notice, hears evidence, determines the arm's length price by order and sends it to the AO and assessee, after which the AO computes total income in conformity. A declared valid option permits the determined arm's length price to apply to two subsequent tax years subject to prescribed exercise of option and TPO declaration; rectification, specified powers, limitation extensions and guideline-making for difficulties are provided. en-us Fri, 14 Feb 2025 17:20:34 +0530 Fri, 14 Feb 2025 17:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49164 Assessing Officers may refer determination of the arm's length price for international or specified domestic transactions to a Transfer Pricing Officer with prior approval; the Transfer Pricing Officer issues notice, hears evidence, determines the arm's length price by order and sends it to the AO and assessee, after which the AO computes total income in conformity. A declared valid option permits the determined arm's length price to apply to two subsequent tax years subject to prescribed exercise of option and TPO declaration; rectification, specified powers, limitation extensions and guideline-making for difficulties are provided. Act-Rules Bills Fri, 14 Feb 2025 17:20:34 +0530 https://www.taxtmi.com/acts?id=49164