Income-tax Act, 1961

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.