Clause 261 - Advance ruling to be void in certain circumstances. - Direct Taxes Code, 2010

Advance ruling to be void in certain circumstances. 261. (1) The Authority may, by order, declare an advance ruling to be void ab initio if it finds that the ruling has been obtained by the applicant by fraud or misrepresentation of facts. (2) Upon declaring the ruling to be void ab initio, all the provisions of this Code shall apply (after excluding the period beginning with the date of such advance ruling and ending with the date of order under this sub-section) to the applicant as if such advance ruling had never been made. (3) A copy of the order made under sub-section (1) shall be sent to the applicant and the Commissioner.