Applicability of advance ruling.

1. (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; and

1. (b) on the concerned officer or the jurisdictional officer in respect of the applicant.

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