If assessee exercises safe harbour option and AO do not pass order declaring it invalid than option will be deemed as valid

Mehsana District Co-operative Vs. DCIT (Gujarat High Court)

Sub­rule (7) of rule 10THD thus lays down the time limit for the Assessing Officer to pass an order under sub­rule(4) and for the concerned competent authority to pass an appropriate order under sub­rule(6). We may recall under sub­rule(4), the Assessing Officer may declare that the option exercised by the assessee for safe harbour was invalid. Under sub­rule(6), the concerned authority would dispose of the assessee’s objection to any such

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