Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 365 - ITAT PUNEExemption u/s 54 - denial of claim as new property was purchased in the name of the assessee’s wife - diversified views - HELD THAT:- When discordant views are rendered by different High Courts, an inferior authority under one of such High Courts is bound to follow its jurisdictional High Court notwithstanding that the other view of the non-jurisdictional High Court may sound more appealing on individual level. The principle of following a view in favour of the assessee when contrary views are available, applies to the authorities acting under neutral High Courts, namely, which have not expressed any opinion – for or against - on that point. Once the jurisdictional High Court decides a particular issue in a particular manner, that manner has to be mandatorily followed by all the authorities acting under it so long as it holds the field and is not deactivated by the Hon’ble Supreme Court. In that view of the matter, we are bound to follow the view taken by the Hon’ble jurisdictional High Court in in Prakash [2008 (9) TMI 234 - BOMBAY HIGH COURT] therefore, hold that the authorities below were justified in denying the benefit of exemption u/s 54 of the Act. Assessee appeal dismissed.
|