Vidhi Codex

section 245S

Applicability of advance ruling.

The Income Tax Act 1961
Tax1961681 sections21 chapters
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Chapter XIX REFUNDS

Statutory text
  1. (1) The advance ruling pronounced by the Authority under section 245R shall be binding only—
    • (a) on the applicant who had sought it;
    • (b) in respect of the transaction in relation to which the ruling had been sought; and
    • (c) on the 1[Principal Commissioner or Commissioner], and the income-tax authorities subordinate to him, in respect of the applicant and the said transaction.
  2. (2) The advance ruling referred to in sub-section (1) shall be binding as aforesaid unless there is a change in law or facts on the basis of which the advance ruling has been pronounced.

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