Safe harbour rules mandate acceptance of declared transfer prices and deemed income, delivering taxpayer certainty while limiting administrative discretion.
Clause 167 empowers the Board to prescribe safe harbour rules under which income-tax authorities shall accept the transfer price or deemed income declared by the assessee for transactions falling within section 9(2) and arm's length price provisions, creating a statutory presumption that reduces administrative discretion and dependency on detailed rule-making to specify eligibility, thresholds, documentation, and procedural requirements.