{"act":{"id":"finance-act-2002","short_title":"The Finance Act, 2002","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2002-2003.","act_number":null,"act_year":2002,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":124,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2002/"},"unit":"section","section":{"number":"41","heading":"Amendment of section 92C","text":"Amendment of section 92C. 41. In section 92C of the Income-tax Act,— (a ) in sub-section (2), for the proviso, the following proviso shall be substituted, namely:— \" Provided that where more than one price is determined by the most appropriate method, the arm’s length price shall be taken to be the arithmetical mean of such prices, or, at the option of the assessee, a price which may vary from the arithmetical mean by an amount not exceeding five per cent of such arithmetical mean.\"; (b ) in sub-section (4), in the second proviso, after the words \"from which tax has been deducted\", the words \"or was deductible\" shall be inserted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 92C.</b></p><p><b>41.</b> In section 92C of the Income-tax Act,—</p><p>(<i>a</i> ) in sub-section (2), for the proviso, the following proviso shall be substituted, namely:—</p><p>\" <b>Provided </b>that where more than one price is determined by the most appropriate method, the arm’s length price shall be taken to be the arithmetical mean of such prices, or, at the option of the assessee, a price which may vary from the arithmetical mean by an amount not exceeding five per cent of such arithmetical mean.\";</p><p>(<i>b</i> ) in sub-section (4), in the second proviso, after the words \"from which tax has been deducted\", the words \"or was deductible\" shall be inserted.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":117,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2002/section/41/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}