determined by
following one of the methods prescribed in sub-section (1) of section
92C . In the present case there is no dispute that ... transaction in accordance with the provisions
of sub-section (1) and sub-section (2) of section 92C on the basis of such
material or information
length price in relation to an international transaction. Sub-section (3) of
section 92C of the Act empowers the Assessing Officer to determine ... section 92C or sub-
section (4) of section 92CA . Notably, sub-section (4) of section 92C comes into
play where an arm's length
computing the arm's length price completely ignoring provisions of section
92C(3) of the Act.
(iv) in rejecting the comparable cases without giving ... provisions of
section 92CB of the Act relating to the power of Board along with the
proviso to section 92C(2) squarely applies
length price in relation to an international transaction. Sub-section (3) of
section 92C of the Act empowers the Assessing Officer to determine ... section 92C or sub-
section (4) of section 92CA. Notably, sub-section (4) of section 92C comes into
play where an arm's length
defined in section 92B ,
any amount is added or disallowed in computing the
total income under sub-section (4) of section 92C , then,
the amount ... international transaction" defined in Section 92B of the Act
then for the purposes of sub-section (c) of section 271(1) the said
amount
Meaning of international transaction. - (1) For the
purposes of this section and sections 92 , 92C , 92D and 92E ,
"international transaction" means a transaction ... section (3), the Assessing
Officer shall proceed to compute the total income of the assessee
under sub-section (4) of section 92C in conformity with
pointed out that sub-section (4) applies where an ALP is
determined by AO under sub-section (3) of section 92C. It is then pointed ... prohibition should exist in section 92C and not in
section 92CC. Section 92C deals with a situation where an assessee declares a price
subject to relief' is without legal sanction.
Second Proviso to Section 92C(2) clearly provides that "if the variation
between ... within the meaning of Rule 10D of IT Rule r.w. section 92C , 920 and 92E
of the IT Act 1961. More so, in view
assessee has thus complied with all requirements as per section 92 , section 92C ,
section 92D , section 92E , rule 10B, 10C, 10D, 10E for computing ... Assessing Officer-
This is made clear by sub-section (3) of section 92C which provides that the Assessing
Officer may intervene only
eligible for
deduction. On the contrary, we find that sub-section (4) of section 92C plainly
stipulates that where an ALP is determined ... income under this sub-
section.
9.3. A circumspect perusal of this proviso read along with sub-section (4) of section
92C divulges that when
