9911796707
TMI BlogProcedure on receipt of applicationX X X X Extracts X X X X X X X X Extracts X X X X ..... ation where the question raised in the application,- ( i ) is already pending before any income-tax authority or Appellate Tribunal [except in the case of a resident applicant falling in sub-clause ( iii ) of clause ( b ) of section 245N] or any court; ( ii ) involves determination of fair market value of any property; ( iii ) relates to a transaction or issue which is designed prima facie for the avoidance of income-tax [except in the case of a resident applicant falling in sub-clause ( iii ) of clause ( b ) of section 245N 3 [***] 4 [or in the case of an applicant falling in sub-clause (iiia) of clause (b) of section 245N]]] Provided further that no application shall be rejected under this sub-section unless an opportunity has been given ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplicant and to the 5 [Principal Commissioner or] Commissioner, as soon as may be, after such pronouncement. 6 [ (8) On and from such date as the Central Government may, by notification in the Official Gazette, appoint, the provisions of this section shall have effect as if for the word Authority , the words Board for Advance Rulings had been substituted and the provisions of this section shall apply mutatis mutandis to the Board for Advance Rulings as they apply to the Authority. (9) The Central Government may, by notification in the Official Gazette, make a scheme for the purposes of giving advance rulings under this Chapter by the Board for Advance Rulings, so as to impart greater efficiency, transparency and accountability by- (a) elimi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority, the Appellate Tribunal or any court; (b) involves determination of fair market value of any property; (c) relates to a transaction which is designed prima facie for the avoidance of income-tax: 2. Inserted vide Finance Act, 2012, w.e.f. 01-04-2013. 3. Omitted vide Finance Act, 2013, w.e.f. 01-04-2013 , before it was read as 2 [ or in the case of an applicant falling in sub-clause ( iiia ) of clause ( b ) of section 245N; ] . 4. Inserted vide Finance Act, 2013, w.e.f. 1st day of April, 2015 . 5 . Inserted vide THE FINANCE (No. 2) ACT, 2014 w.e.f. 1st day of June, 2013. 6. Inserted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-04-2021 7. Inserted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 8. Inserted vide ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
