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Dawn raids in TPO’s arsenal

March 09, 2011

Sophie Ashley - TPW

Last week’s budget in India included a boost to the transfer pricing officer’s (TPO) power, allowing them access to a taxpayer’s premises to obtain information about the arm’s length price (ALP) methodology.

The power of survey, under section 133A of the Income Tax Act (ITA), gives the authorities jurisdiction to enter business premises during normal business hours to check and verify cash, stock (or other valuable articles), books of account and other documents that are available on the premises.

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