Amendment of section 80-IA.

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....s "the 31st day of March, 2012", wherever they occur, the words, figures and letters "the 31st day of March, 2013" shall respectively be substituted;            (b) in sub-section (8), for the Explanation, the following Explanation shall be substituted, namely:-               &n....

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.... to arm's length price as defined in clause (ii) of section 92F.". - Clause 29 of the Bill seeks to amend section 80-IA of the Income-tax Act relating to deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. The existing provisions contained in clause (iv) of sub-section (4) of the aforesaid section 80-IA provide th....

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...., 2013. The existing Explanation to sub-section (8) of the aforesaid section 80-IA provides for the definition of "market value" in relation to goods or services. It is proposed to substitute the aforesaid Explanation so as to include the arm's length price as defined in clause (ii) of section 92F, where the transfer of such goods or services is "specified domestic transaction" referred to i....