An advance ruling refers to the facility of obtaining a judgment in advance from the Authority for Advance Rulings. The facility is used when the assessee has anticipated contentious issues in the Income Tax assessment. An advance ruling enables the assessee to obtain an authoritative decision of the Authority for Advance Rulings. The Advance ruling authority give its ruling in relation to transaction which har already undertaken or is proposed to be undertaken by assessee and such judgement may be related to any question of law /facts
