CBDT notifies 01/09/2021 as the commencement date of certain provisions relating to Authority for Advance Ruling (AAR) under the Income Tax Act, 1961, vide Notification 97/2021 dt. 01/09/2021, i.e. the provisions relating to Notified date from which AAR shall cease to operate.
As per amendments made by the Finance Act, 2021, the Authority for Advance Rulings (AAR) shall cease to operate from a Notified date. Accordingly, CBDT has notified constitution of the ‘Boards for Advance Rulings’ and that AAR shall cease to operate, w.e.f. 01/09/2021.
CBDT Income Tax Notification 97/2021 dt. 01/09/2021: Commencement date of certain provisions relating to AAR
S.O. 3562(E).- In exercise of the powers conferred by the second proviso to sub-section (1) of section 245-O, sub-section (2) of section 245P, sub-section (4) of section 245Q, sub-section (8) of section 245R, sub-section (3) of section 245S, sub-section (3) of section 245T, sub-section (3) of section 245U and the proviso to section 245V of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby appoints 01/09/2021 as the date for the purposes of said provisos and said sub-sections of the said Act.