IT Act 1961 92CB — Power of Board to make safe harbour rules

Income-tax Act, 1961

Statutory text

(1) The determination of 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 declared by the assessee.]

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