M/s Sun Ltd., an Indian public sector company, wants to seek advance ruling from the Board for Advance Rulings (BOAR) in respect of a matter…
CA Final · Direct Tax Laws and International Taxation · MTP · May 2024
M/s Sun Ltd., an Indian public sector company, wants to seek advance ruling from the Board for Advance Rulings (BOAR) in respect of a matter relating to computation of its total income involving a question of law relating to such computation. However, the matter is already pending before the Income-tax Appellate Tribunal (ITAT) as on the date of application for advance ruling i.e., 12.12.2023. It cannot seek the BOAR ruling till the matter is pending before the ITAT.
Suggested Answer and Working Notes:
(ii) The statement is not correct. A resident falling within any class or category of persons as notified by the Central Government i.e., a public sector undertaking can seek advance ruling even if question raised is pending before the Appellate Tribunal.
Topics: Advance Rulings
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