TMI BlogProcedure on Receipt of Application - Section 245RX X X X Extracts X X X X X X X X Extracts X X X X ..... ant records. such records will be returned to the Principal Commissioner or commissioner as soon as possible. [ Section 245R(1) ] STEP II AAR may allow or reject the application. However in following 3 cases, AAR shall reject the application :- Pending with Income-tax authorities/ tribunal /Court is alread ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng in sub-clause (iiia) of section 245N(b). Opportunity of being heard shall be given to the applicant before order of rejection of application. Where the application is rejected, reasons for such rejection shall be given in the order. Copy of order shall be sent to the applicant and to the CIT No appeal is possible against order of rejection. [ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... presentative. [ Section 245R(5) ] STEP VI The Authority shall pronounce its advance ruling in writing within 6 months of the receipt of application. [ Section 245R(6) ] STEP VII A copy of the advance ruling pronounced by the Authority, duly signed by the Members and certified in the prescribed manner shall be sent to the appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r advance Rulings 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) eliminating the interface between the Board for Advance Rulings and the applicant in the course of proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r before the 31st day of March, 2023, by notification in the Official Gazette. [ Section 245R(10) ] Every notification issued u/s 245R(9) and 245R(10) shall, as soon as may be after the notification is issued, be laid before each House of Parliament. [ Section 245R(11) ] - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management ..... X X X X Extracts X X X X X X X X Extracts X X X X
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