Power of Board to make safe harbour rules

Power of Board to make safe harbour rules :

Section – 92CB. (1) The determination of arm’s length price under section 92C or section 92CA shall be subject to safe harbour rules³⁸.

(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.