TaxTMI 
TaxTMI 
Income-tax (2nd Amendment), Rules, 2015.
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....Income-tax (2nd Amendment), Rules, 2015. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, -- (A) in Part-II, in sub-part D relating to special cases,-- (1) in rule 10 D,-- (a) after sub-rule (2), the following sub-rule shall be inserted, namely:- "(2A) Nothing contained in sub-rule (1), in so far as it relates to an eligible specified domestic transaction referred to in rule 10 THB , shall apply in a case of an eligible assessee referred to in rule 10 THA and, the said eligible assessee, shall keep and maintain the following information and documents, namely:- (i) a description of the ....
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.... brackets, figures and letter "sub-rules (1), (2) and (2A)" shall be substituted; (d) in sub-rule (5), for the words, brackets and figures "sub-rules (1) and (2)", the words, brackets, figures and letter "sub-rules (1), (2) and (2A)" shall be substituted; (2) after rule 10 T, in the heading, for the words "Safe Harbour Rules", the words " Safe Harbour Rules for International Transactions" shall be substituted; (3) after rule 10TG, the following rules shall be inserted, namely:- '"Safe Harbour Rules for Specified Domestic Transactions" 10TH. Definitions.- For the purposes of this rule and rules 10THA to 10THD,- (a) "Appropriate Commission" shall have the same meaning as assigned to it in ....
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....fied domestic transaction specified in column (2) of the Table below shall be as specified in the corresponding entry in column (3) of the said Table:- S. No. Eligible specified domestic Transaction Circumstances 1 2 3 1 Supply of electricity, transmission of electricity, wheeling of electricity referred to in items (i), (ii) or (iii) of rule THB, as the case may be. The tariff in respect of supply of electricity, transmission of electricity, wheeling of electricity, as the case may be, is determined by the Appropriate Commission in accordance with the provisions of the Electricity Act, 2003 (36 of 2003). (3) No comparability adjustment and allowance under the second proviso to sub-section (2) of section ....
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....our by the assessee is treated to be validly exercised. (3) Where the Assessing Officer doubts the valid exercise of the option for the safe harbour by an assessee, he may require the assessee, by notice in writing, to furnish such information or documents or other evidence as he may consider necessary, and the assessee shall furnish the same within the time specified in such notice. (4) Where- • the assessee does not furnish the information or documents or other evidence required by the Assessing Officer; or • the Assessing Officer finds that the assessee is not an eligible assessee; or • the Assessing Officer finds that the specified domestic transaction in respect of which the opti....
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....rule(4) shall be made by an Assessing Officer after expiry of a period of three months from the end of the month in which Form 3CEFB is received by him; • the order under sub-rule (6) shall be passed by the Principal Commissioner or Commissioner or Principal Director or Director, as the case may be, within a period of two months from the end of the month in which the objection filed by the assessee under sub-rule(5) is received by him. (8) If the Assessing Officer or the Principal Commissioner or the Commissioner or the Principal Director or the Director, as the case may be, does not pass an order within the time specified in sub-rule (7), then the option for safe harbour exercised by the assessee shall be treated as v....