TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Clause 384: Board for Advance Rulings procedure, timelines, hearings, mandatory rejection grounds and cross-reference changes to section 380(b)</h1> Clause 384 prescribes the Board for Advance Rulings' process on receiving applications: forwarding the application to the Principal Commissioner/Commissioner, calling records, allowing or rejecting after examination, providing an opportunity to be heard and reasons if rejecting, pronouncing a written ruling within six months once allowed, permitting hearings on request, and sending certified copies to the applicant and the Principal Commissioner/Commissioner. Mandatory rejection grounds include questions pending before tax authorities/tribunal/court (subject to exceptions), fair market value determinations, and transactions prima facie for tax avoidance. The principal substantive change between versions is a revision of the cross-references to sub-clauses of section 380(b), altering which applicant categories benefit from exceptions; procedural mechanics remain otherwise unchanged.
TaxTMI 
TaxTMI 