Secondary adjustment - Section 92CE

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....e imbalance between cash account and actual profit of the assessee. Cases where secondary adjustment has to be made - Section 92CE requires assessee to carry out secondary adjustment where the primary adjustment to transfer price,- (i) has been made suo moto by the assessee in his return of income; (ii) made by the Assessing Officer has been accepted by the assessee; (iii) is determined by an advance pricing agreement entered into by the assessee u/s 92CC, on or after the 1st day of April, 2017 (iv) is made as per the safe harbour rules framed u/s 92CB; (v) is arising as a result of resolution of an assessment by way of the mutual agreement procedure under an agreement entered into under section 90 or section 90A for avoidance ....

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....umn (3) in the case mentioned in column (2) of the table and Interest thereon to be levied to make it part of income of the assessee on such deemed advance to AE and the period from which interest is chargeable on the excess money or part thereof which is not repatriated in such case is given in column (4). [ Rule 10CB(1) & (3) ] S.No. Case Date Period (1) (2) (3) (4) (i) Where primary adjustments to transfer price has been made suo-moto by the assessee in his return of income from the due date of filing of return u/s 139(1) from the due date of filing of return u/s 139(1) (ii) If the primary adjustments to transfer price as determined in the of Assessing Officer or the appellate authority has been accepted b....

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....ate of giving effect by the Assessing Officer under rule 44H (this rule has been omitted w.e.f. 06-05-2020) to the resolution arrived at under mutual agreement procedure (MAP) Rate of Interest for the purpose of Computation on interest on excess money or part thereof, if not repatriated within the prescribed time u/s 92CE(1) [ Rule 10CB(2) ] S.No. Case Rate (i) In the cases where the international transaction is denominated in Indian rupee At the one year marginal cost of fund lending rate (MCLR) of SBI as on 1st of April of the relevant previous year + 3.25% (ii) In the cases where the international transaction is denominated in foreign currency At six month London Interbank Offered Rate as on 30th September of the rel....