Explain in brief the meaning assigned to the following terms in the context of provisions contained under the International Taxation : (a) Comparable Uncontrolled Transaction

Answer 6A(iii) (a) Comparable Uncontrolled Transaction: An uncontrolled comparable transaction is a transaction between two or more enterprises that are not associated enterprises with respect to each other and is similar in terms of functions performed, assets used and risk assumed with respect to a transaction between two related enterprises.