https://www.taxtmi.com/acts?id=11030 Applications for advance rulings must be submitted in prescribed form with the prescribed fee and may be withdrawn within thirty days. The Authority forwards applications to the Commissioner, may call for records, and after examination may allow or reject the application with reasons following a hearing. Applications are not allowable if the question is pending before an income-tax authority, Appellate Tribunal or court, involves fair market value determination, or concerns a transaction prima facie for income-tax avoidance. Where allowed, the Authority examines further material, provides hearing opportunities, pronounces the ruling within the prescribed timeframe, and sends certified copies to the applicant and Commissioner. en-us Thu, 20 Aug 2009 14:08:59 +0530 Thu, 20 Aug 2009 14:08:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11030 Applications for advance rulings must be submitted in prescribed form with the prescribed fee and may be withdrawn within thirty days. The Authority forwards applications to the Commissioner, may call for records, and after examination may allow or reject the application with reasons following a hearing. Applications are not allowable if the question is pending before an income-tax authority, Appellate Tribunal or court, involves fair market value determination, or concerns a transaction prima facie for income-tax avoidance. Where allowed, the Authority examines further material, provides hearing opportunities, pronounces the ruling within the prescribed timeframe, and sends certified copies to the applicant and Commissioner. Act-Rules Bills Thu, 20 Aug 2009 14:08:59 +0530 https://www.taxtmi.com/acts?id=11030