Applicability of advance ruling

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....der section 245R shall be binding only (a) on the applicant who had sought it; (b) in respect of the transaction in relation to which the ruling had been sought; and (c) on the 1[Principal Commi....

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....nced under section 245R on or after such date as the Central Government may, by notification in the Official Gazette, appoint.] ------------------- Notes:- 1. Inserted vide THE FINANCE (No. 2) ACT,....