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a Hindu undivided family, the other
enterprise is controlled by a member
of such Hindu undivided family or
by a relative of a member of such
Hindu undivided family or jointly by
such member and his relative; or
(l) where one enterprise is a rm,
association of persons or body of
individuals, the other enterprise
holds not less than ten per cent
interest in such rm, association of
persons or body of individuals; or
(m) there exists between the two
enterprises, any relationship
of mutual interest, as may be
prescribed.
Reference to Transfer Pricing Ofcer.
92CA. (1) Where any person, being the
assessee, has entered into an international
transaction in any previous year, and the
Assessing Ofcer considers it necessary
or expedient so to do, he may, with the
previous approval of the Commissioner,
refer the computation of the arms length
price in relation to the said international
transaction under section 92C to the
Transfer Pricing Ofcer.
(2) Where a reference is made under sub-
section (1), the Transfer Pricing Ofcer
shall serve a notice on the assessee
requiring him to produce or cause to
be produced on a date to be specied
therein, any evidence on which the
assessee may rely in support of the
computation made by him of the
arms length price in relation to the
international transaction referred to in
sub-section (1).
(3) On the date specied in the notice under
sub-section (2), or as soon thereafter as
may be, after hearing such evidence as
the assessee may produce, including any
information or documents referred to
in sub-section (3) of section 92D and
after considering such evidence as the
Transfer Pricing Ofcer may require on
any specied points and after taking into
account all relevant materials which he
has gathered, the Transfer Pricing Ofcer
shall, by order in writing, determine
the arms length price in relation to the
international transaction in accordance
with sub-section (3) of section 92C and
send a copy of his order to the Assessing
Ofcer and to the assessee.
(3A) Where a reference was made under sub-
section (1) before the 1st day of June,
2007 but the order under sub-section
(3) has not been made by the Transfer
Pricing Ofcer before the said date, or a
reference under sub-section (1) is made
on or after the 1st day of June, 2007, an
order under sub-section (3) may be made
at any time before sixty days prior to the
date on which the period of limitation
referred to in section 153, or as the case
may be, in section 153B for making the
order of assessment or reassessment or
recomputation or fresh assessment, as
the case may be, expires.
(4) On receipt of the order under sub-
section (3), the Assessing Ofcer shall
proceed to compute the total income
of the assessee under sub-section (4)
of section 92C in conformity with the
arms length price as so determined by
the Transfer Pricing Ofcer.
(5) With a view to rectifying any mistake
apparent from the record, the Transfer
Pricing Ofcer may amend any order
passed by him under sub-section (3),
and the provisions of section 154 shall,
so far as may be, apply accordingly.
(6) Where any amendment is made by the
Transfer Pricing Ofcer under sub-
T P