Power of Board to make safe harbour rules
Power of Board to make safe harbour rules.
92CB. (1) The determination of—
| (a) | income referred to in clause (i) of sub-section (1) of section 9; or | |
| (b) | arm's length price under section 92C or section 92CA, |
| shall be subject to safe harbour rules. |
(2) The Board may, for the purposes of sub-section (1), make rules for safe harbour.
Explanation.—For the purposes of this section, "safe harbour" means circumstances in which the income-tax authorities shall accept the transfer price or income, deemed to accrue or arise under clause (i) of sub-section (1) of section 9, as the case may be, declared by the assessee.