Income-tax Act : Income from transactions with non-residents, how computed in certain cases1 Indian

Income-tax Act,1961

Act No : 43

Section : Income from transactions with non-residents, how computed in certain cases1

92. Income from transactions with non-residents, how computed in certain cases1 Where a business is carried on between a resident and a non- resident and it appears to the 2 [Assessing] Officer that, owing to the close connection between them, the course of business is so arranged that the business transacted between them produces to the resident either no profits or less than the ordinary profits which might be expected to arise in that business, the 3[Assessing] Officer shall determine the amount of profits which may reasonably be deemed to have been derived therefrom and include such amount in the total income of the resident.