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[Cites 0, Cited by 3] [Section 245S] [Entire Act]

Union of India - Subsection

Section 245S(1) in The Income Tax Act, 1961

(1)The advance ruling pronounced by the Authority under 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 Principal Commissioner or Commissioner, and the income-tax authorities subordinate to him, in respect of the applicant and the said transaction.