Binding effect of advance rulings limited to the applicant and transaction; not binding after change in law or fact. Advance rulings pronounced by the Authority under section 258 are binding only on the applicant and in respect of the transaction concerned, and bind the Commissioner and subordinate income-tax authorities in relation to that applicant and transaction; the ruling is not binding if there is a change in law or in fact on which it was based.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Binding effect of advance rulings limited to the applicant and transaction; not binding after change in law or fact.
Advance rulings pronounced by the Authority under section 258 are binding only on the applicant and in respect of the transaction concerned, and bind the Commissioner and subordinate income-tax authorities in relation to that applicant and transaction; the ruling is not binding if there is a change in law or in fact on which it was based.
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