In section 92, 92A, 92B, 92C, 92D and 92E, unless the context otherwise requires,-
(i) "accountant" shall have the same meaning as in the Explanation below sub-section (2) of section 288;
(ii) "arm's length price" means a price which is applied or proposed to be applied in a transaction between persons other than associated enterprises, in uncontrolled conditions;
(iii) "enterprise" means a person (including a permanent establishment of such person) who is, or has been, or is proposed to be, engaged in any activity, relating to the production, storage, supply, distribution, acquisition or control of articles or goods, or know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, or any data, documentation, drawing or specification relating to any patent, invention, model, design, secret formula or process, of which the other enterprise is the owner or in respect of which the other enterprise has exclusive rights, or the provision of services of any kind, 1 or in carrying out any work in pursuance of a contract, or in investment, or providing loan or in the business of acquiring, holding, underwriting or dealing with shares, debentures or other securities of any other body corporate, whether such activity or business is carried on, directly or through one or more of its units or divisions or subsidiaries, or whether such unit or division or subsidiary is located at the same place where the enterprise is located or at a different place or places;
1 (iiia) "permanent establishment", referred to in clause (iii), includes a fixed place of business through which the business of the enterprise is wholly or partly carried on;
2 (iv) "specified date" shall have the same meaning as assigned to "due date" in Explanation 2 below sub-section (1) of section 139;
(v) "transaction" includes an arrangement, understanding or action in concert,-
(A) whether or not such arrangement, understanding or action is formal or in writing; or
(B) whether or not such arrangement, understanding or action is intended to be enforceable by legal proceeding.
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1. Ins. by Act 20 of 2002, s. 43 (w.e.f. 1-4-2002).
2. Subs. by s. 43, ibid., for clause (iv) (w.e.f. 1-4-2002).
Section 92A Meaning of associated enterprise
Section 92B Meaning of international transaction
Section 92BA Meaning of specified domestic transaction
Section 92C Computation of arms length price
Section 92CA Reference to Transfer Pricing Officer
Section 92CB Power of Board to make safe harbour rules
Section 92CC Advance pricing agreement
Section 92CD Effect to advance pricing agreement
Section 92CE Secondary adjustment in certain cases
Section 92F Definitions of certain terms relevant to computation of arm's length price, etc