Procedure on receipt of application.
245R. (1) On receipt of an
application, the Authority shall cause a copy thereof to be forwarded to the
Commissioner and, if necessary, call upon him to furnish the relevant records :
Provided that where any records
have been called for by the Authority in any case, such records shall, as soon
as possible, be returned to the Commissioner.
(2) The Authority may,
after examining the application and the records called for, by order, either
allow or reject the application :
24[Provided that the Authority shall not allow
the application where the question raised in the application,—
(i) is already pending before any income-tax
authority or Appellate Tribunal [except in the case of a resident applicant
falling in sub-clause (iii) of
clause (b) of section 245N] or any court;
(ii) involves determination of fair market value of
any property;
(iii) relates to a transaction or issue which is
designed prima facie for the
avoidance of income-tax [except in the case of a resident applicant falling in
sub-clause (iii) of clause (b) of section
245N]:]
Provided further that no application
shall be rejected under this sub-section unless an opportunity has been given
to the applicant of being heard:
Provided
also that where the application is rejected, reasons for such
rejection shall be given in the order.
(3) A copy of every order
made under sub-section (2) shall be sent to the applicant and to the
Commissioner.
(4) Where an application is
allowed under sub-section (2), the Authority shall, after examining such
further material as may be placed before it by the applicant or obtained by the
Authority, pronounce its advance ruling on the question specified in the
application.
(5) On a request received
from the applicant, the Authority shall, before pronouncing its advance ruling,
provide an opportunity to the applicant of being heard, either in person or
through a duly authorised representative.
Explanation.—For the purposes of
this sub-section, “authorised representative” shall have the meaning assigned
to it in sub-section (2) of section 288, as if the
applicant were an assessee.
(6) The Authority shall
pronounce its advance ruling in writing within six months of the receipt of
application.
(7) A copy of the advance
ruling pronounced by the Authority, duly signed by the Members and certified in
the prescribed manner 25 shall be sent to the
applicant and to the Commissioner, as soon as may be, after such pronouncement.