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2021 (2) TMI 410 - AAR - Income TaxPermission to withdraw the present advance ruling application - HELD THAT:- The provision of Section 245Q(3) of the Act stipulates that "An applicant may withdraw an application within 30 days from the date of the application." In the present case, the request to withdraw the application has been made by the Applicant much beyond the eligibility period of 30 days, as stipulated under section 245Q(3) of the Act. In view of this specific provision, the Applicant cannot be allowed to withdraw the application at this stage. In the present case the order for admission of the application was passed on 30th January 2017, which was under section 245R(2) of the Act. Once the application has been admitted under section 245R(2) of the Act, the provision of Section 245R(4) is applicable which reads as under - Where an application is allowed under sub-section (2), the Authority shall, after examining such further material as may be placed before it by the applicant or obtained by the Authority, pronounce its advance ruling on the question specified in the application. Since the Applicant does not wish to pursue the present application for advance ruling filed by it, we do not deem it necessary to examine the matter further and decline to pronounce the advance ruling. The contention of the Revenue that once the application is admitted it cannot be rejected in the proceeding under section 245R(4) of the Act is found to be misplaced. In a case where it is found that the transaction was designed prima-facie for avoidance of income-tax, such application can be rejected even under the proceeding under section 245R(4) of the Act. In the present case we are only declining to pronounce the advance ruling in view of the request of the Applicant not to pursue the matter further and to withdraw the application. Accordingly, the application is dismissed as not pressed or withdrawn by the Applicant.
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