Advance Ruling regime establishes binding tax determinations for applicants and sets procedural and enforcement rules. The Chapter establishes an advance ruling regime: eligible applicants may seek determinations on classification, notification applicability to rates, and valuation principles; the Authority forwards applications to the Commissioner, may call records, allow or reject applications with reasons and hearings, pronounce written advance rulings and send certified copies. Rulings are binding on the applicant and on the Commissioner and subordinate authorities insofar as they concern the applicant, but cease to bind if law or facts change. The Authority may void rulings obtained by fraud and has civil court powers to enforce procedure.
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.
Advance Ruling regime establishes binding tax determinations for applicants and sets procedural and enforcement rules.
The Chapter establishes an advance ruling regime: eligible applicants may seek determinations on classification, notification applicability to rates, and valuation principles; the Authority forwards applications to the Commissioner, may call records, allow or reject applications with reasons and hearings, pronounce written advance rulings and send certified copies. Rulings are binding on the applicant and on the Commissioner and subordinate authorities insofar as they concern the applicant, but cease to bind if law or facts change. The Authority may void rulings obtained by fraud and has civil court powers to enforce procedure.
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