Dear All,
In AS 13 definition of Fair value includes a term " At arms Length " Pls clear me the meaning of this term, and in nowdays transactions there are mostly transactions took place online then what would be the relevance of such term,
Waiting for reply
Thanks & Regards
Raman Gora
Arm length transaction means a transaction in a market where there are large numbers of buyers & sellers and both buyer & sellers are well aware of market. neither buyer nor seller can influence the market in case of arm length transaction.
CAclubindia
