Amendment status not verified — confirm the current text below against the official source.
[(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]. Substituted by the Act No. 12 of 2020, w.e.f. 01/04/2020. See rules 10TA to 10TG and Form No. 3CEFA (for international transactions). See rules 10TH to 10THD and Form No. 3CEFB (for domestic transactions). Substituted for "the transfer price declared by the assessee" by the Act No. 12 of 2020, w.e.f. 01/04/2020.