Assessee to follow one of the methods prescribed and demonstrates that international transactions entered with associated enterprise are at arm’s leng

Advertisement Citation : ITA No. 925/Mum/06, Assessment Year: 2002- 03, M/s Star lite Vs. DCIT Court :ITAT Mumbai It is mandatory for the assessee to follow one of the methods prescribed in Section 92C of the Income Tax Act, 1961 read with Rule 10B of the Income Tax Rules, 1962 and demonstrate that the international transactions entered with the associated enterprise are at arm’s length. Tribunal Ruling: It is mandatory for the assessee to follow one of the methods prescribed in Section 92C of the Income Tax Act, 1961 read with Rule 10B of the Income Tax Rules, 1962 and demonstrate that t...