AAR may allow or reject an application. However, it has been specifically provided that AAR shall not allow an application where the question of law or fact raised is already pending in the case of the applicant, before any income-tax authority, the Appellate Tribunal or any court. Applications are also not to be allowed where the transaction, in relation to which the question is raised, is designed for the avoidance of income-tax or where the question relates to the determination of the fair market value of a property.