Clause 167 - Power of Board to make safe harbour rules. - Income Tax Bill, 2025

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) In 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.