Section 25AA: Transaction between Associates

[25AA. Transactions between Associates.– 6[(1)] The Commissioner or an office of Inland Revenue may, in respect of any transaction between persons who are associates, determine the transfer price of taxable supplies between the persons as is necessary to reflect the fair market value of supplies in an arm’s length transaction.] 381[(2) The Board may, by notification in official gazette, prescribe rules for carrying out the purpose of sub-section (1).] RETURNS

Effective date: 1990-11-01

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