Section 167
Power of Board to make safe harbour rules.
About this Act
An Act to consolidate and amend the law relating to income-tax.
(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.
(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.