476 International Transfer Pricing 2013/14 Introduction A separate code on transfer pricing under Sections 92 to 92F of the Indian Income Tax Act, 1961 (the Act) covers intra-group cross-border transactions which is applicable from 1 April 2001 and specified domestic transactions which is applicable from 1 April 2012. Provided the implementation of the new Direct Tax Code is not deferred by the Government. 486 International Transfer Pricing 2013/14 India Where an Indian taxpayer is providing such services, the taxpayer should be compensated on an armâs-length basis.
Picture from Glen Canyon National Recreation Area, Utah. The Principle of Original Horizontality states that layers of sediment are originally deposited horizontally under the action of gravity . It is a relative dating technique. The principle is important to the analysis of folded and tilted strata.
Unconformities Are Gaps in the Geological Record. Gaps in the geological record, like those discovered in 2005, are called unconformities because they do not conform to typical geological expectations. The concept of an unconformity arises from two of the oldest principles of geology, first stated in 1669 by Nicholas Steno: 1  The Law of Original Horizontality: Layers of sedimentary rock (strata) are originally laid down flat, parallel to the Earth's surface. 2  The Law of Superposition.