Clause 260 - Applicability of advance ruling. - Direct Taxes Code, 2010

Applicability of advance ruling. 260. (1) The advance ruling pronounced by the Authority under section 258 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) 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.