Applicability of section 92

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Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2013 The applicability of this section though for the purpose of enterprises having International Transaction was amended to rope in specified domestic transaction also from 2013-14 Asst.
Will this section be applicable to enterprises having no connection whatsoever to any International Transaction either by itself or through its associated enterprise? This is pertinent since the amendment made to include domestic transaction for the Asst year 2013-14 under chapter X still retains the heading "Computation of Income from International Transaction.....".

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 December 2013 It applies to those who have specified domestic transaction and no international transaction.

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2013 If this section is used to plug designs of unscrupulous persons to reduce taxation by transacting with related persons, what is special in this section which section 40A(2)(b) cannot rope?

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