Advance rulings procedure: authority may accept or reject applications on specified grounds and must issue reasoned written rulings. Procedure for advance rulings under Section 245R requires forwarding applications to the Principal Commissioner or Commissioner and permits the Authority to allow or reject applications on specified grounds (pending proceedings, fair market value issues, transactions designed for tax avoidance) with an opportunity to be heard, reasoned orders, and service to the applicant and Commissioner; allowed applications are examined further and ruled on in writing within six months, with rectification powers for mistakes apparent from the record and provision for a Central Government notified faceless scheme to administer rulings.