Clause 254 - Applicability of Advance Ruling - Direct Taxes Code Bill, 2009

Applicability of Advance Ruling 254. (1) The Advance Ruling pronounced by the Authority under section 252 shall be binding only - (a) on the applicant in whose case the Advance Ruling has been pronounced; (b) in respect of the transaction in relation to which the Advance Ruling has been pronounced; and (c) on the Commissioner, and the income-tax authorities subordinate to him, in respect of the applicant and the said transaction. (2) However, the Advance Ruling referred to in sub-section (1) shall not be binding, if there is a change in law, or fact, on the basis of which the Advance Ruling has been pronounced.