Advance ruling void for fraud or misrepresentation - Board may declare rulings void ab initio and restore tax law application.

Clause 386 permits the Board for Advance Rulings to declare an advance ruling void ab initio if obtained by fraud or misrepresentation, reinstating application of the Act to the applicant as though the ruling had never been made while excluding the period from the date of the advance ruling to the date of the voidance order; a copy of the order must be sent to the applicant and to the Principal Commissioner or Commissioner.

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