Section Text
a) and (b), the following clauses shall be substituted with effect from the 1st day of June, 2000, namely :- '(a) "advance ruling" means-
(i) a determination by the Authority in relation to a transaction which has been undertaken or is proposed to be undertaken by a non -resident applicant; or (ii) a determination by the Authority in relation to a transaction which has been undertaken or is proposed to be undertaken by a resident applicant with a non-resident, and such determination shall include the determination of any question of law or of fact specified in the application;
(iii) a determination or decision by the Authority in respect of an issue relating to computation of total income which is pending before any income-tax authority or the Appellate Tribunal and such determination or decision shall include the determination or decision of any question of law or of fact relating to such computation of total income specified in the application;
(b) "applicant" means any person who-
(i) is a non-resident referred to in sub-clause (i) of clause (a); or (ii) is a resident referred to in sub-clause (ii) of clause (a); or (iii) is a resident falling within any such class or category of persons as the Central Government may, by notification in the Official Gazette, specify in this behalf; and (iv) makes an application under sub-section (1) of Section 245-Q;'.