Advance_Ruling
Section 120 : Rectification of Advance Ruling – Advance Ruling
June 10, 2017
Advance_Ruling
Section 122 : Advance Ruling to be void in certain circumstances – Advance Ruling
June 10, 2017

Section 121 : Applicability of Advance Ruling – Advance Ruling

Advance_Ruling

121. Applicability of Advance Ruling

(1) The advance ruling pronounced by the Authority or, as the case may be, 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 subsection (2) of section 116 of the application for advance ruling;
(b) on the jurisdictional tax authorities in respect of the applicant.

(2) The advance ruling referred to in sub-section (1) shall be binding as aforesaid unless the law, facts or circumstances supporting the original advance ruling have changed.

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