Power of Board to make safe harbour rules.
Power of Board to make safe harbour rules.
167. (1) The determination of—
| (a) | income referred to in section 9(2); or |
| (b) | arm’s length price under section 165 or 166, |
shall be subject to safe harbour rules.
(2) For the purposes of sub-section (1), the Board may make rules for safe harbour.
(3) For the purposes of this section, “safe harbour” means circumstances in which the income-tax authorities shall accept,—
| (a) | the transfer price; or |
| (b) | the income, deemed to accrue or arise under section 9(2), |
declared by the assessee.