Rule 77 — Meaning of expressions used in determination of arm‘s length price
Parent Act Section(s): Section 162, Section 173
Full Text
- Meaning of expressions used in determination of arm‘s length price.— For the purpose of this rule and rules 78 to 84, — (a) ―associated enterprise‖ shall have the meaning assigned to it in section 162; (b) ―enterprise‖ shall have the meaning assigned to it in section 173(b) and shall, for the purposes of a specified domestic transaction, include a unit, or an enterprise, or an undertaking or a business of a person who undertakes such transaction; (c) ―property‖ includes goods, articles or things, and intangible property;
(d) ―services‖ include financial services; (e) ―transaction‖ includes a number of closely linked transactions; and (f) ―uncontrolled transaction‖ means a transaction between enterprises other than associated enterprises, whether resident or non-resident.
Cross-References
Act Sections Referenced
Related Rules
- None
Practical Notes
[To be populated — interpretive notes, circular references, case law pointers]