Amendment of section 92CA.

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....ional transaction or specified domestic transaction" shall respectively be substituted with effect from the 1st day of April, 2013;            (b) after sub-section (2A), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2002, namely:-       &nb....

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....ing Officer either to assess or reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year, proceedings for which have been completed before the 1st day of July, 2012.". - Clause 38 of the Bill seeks to amend section 92CA of the Income-tax Act relating to ....

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.... the aforesaid section so as to provide that where in respect of an international transaction, the assessee has not furnished the report under section 92E and such transaction comes to the notice of the Transfer Pricing Officer in the course of proceeding before him, then he shall be empowered to take into account such transaction as if it is an international transaction referred to him by the Ass....