Section 103. Applicability of advance ruling. -
(1) The advance ruling pronounced by the Authority or
the Appellate Authority under this Chapter shall be binding only-
(a) on the applicant who had sought it in respect of
any matter referred to in sub section (2) of section 97 for advance ruling;
(b) on the concerned officer or the jurisdictional
officer in respect of the applicant.
1[(1A) The Advance Ruling pronounced by the National
Appellate Authority under this Chapter shall be binding on-
(a) the applicants, being distinct persons, who had
sought the ruling under sub-section (1) of section 101B and all registered
persons having the same Permanent Account Number issued under the Income-tax
Act, 1961 (43 of 1961.);
(b) the concerned officers and the jurisdictional
officers in respect of the applicants referred to in clause (a) and the
registered persons having the same Permanent Account Number issued under the
Income-tax Act, 1961 (43 of 1961).]
(2) The advance ruling referred to in sub-section (1)
2[and sub-section (1A)] shall be binding unless the law, facts or circumstances
supporting the original advance ruling have changed.
