Section 386 — Advance ruling to be void in certain circumstances

(1) Where on a representation made by the Principal Commissioner or
Commissioner or otherwise, the Board for Advance Rulings finds, that an
advance ruling pronounced under section 384(6) has been obtained by the applicant
by fraud or misrepresentation, then it may by order, declare such ruling to be void
ab initio and thereupon, all the provisions of this Act shall apply (after excluding the
period beginning with the date of such advance ruling and ending with the date of
order under this sub-section) to the applicant as if such advance ruling had never
been made.
(2) A copy of the order made under sub-section (1) shall be sent to the applicant
and the Principal Commissioner or Commissioner.