Advance ruling expanded to cover transaction determinations and pending computation-of-income matters, broadening eligible applicants. Amendment substitutes clauses (a) and (b) of section 245N to redefine advance ruling to include determinations by the Authority on transactions by non-resident applicants or by residents with non-residents, and determinations or decisions on issues relating to computation of total income pending before any income-tax authority or the Appellate Tribunal, including questions of law or fact specified in the application. It redefines applicant to include those non-residents and residents so described, residents of classes notified by the Central Government, and persons making an application under the advance-ruling application provision.
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Provisions expressly mentioned in the judgment/order text.
Advance ruling expanded to cover transaction determinations and pending computation-of-income matters, broadening eligible applicants.
Amendment substitutes clauses (a) and (b) of section 245N to redefine advance ruling to include determinations by the Authority on transactions by non-resident applicants or by residents with non-residents, and determinations or decisions on issues relating to computation of total income pending before any income-tax authority or the Appellate Tribunal, including questions of law or fact specified in the application. It redefines applicant to include those non-residents and residents so described, residents of classes notified by the Central Government, and persons making an application under the advance-ruling application provision.
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