2003 (7) TMI 44 - HC - Income Tax

Impugned order has been passed by the Income-tax Appellate Tribunal in total ignorance of the decision of the Supreme Court - This in our considered opinion would be a fit case in which the Revenue should file an application under section 254(2) of the Income-tax Act and bring to the notice of the Tribunal the decision of the Supreme Court so that the Income-tax Appellate Tribunal may pass appropriate order in accordance with the provisions of law and the law laid down by the Supreme Court

Summary

The High Court of Madhya Pradesh heard an appeal under section 260A of the Income-tax Act, 1961, against an order passed by the Income-tax Appellate Tribunal. The Supreme Court had previously upheld additions made to the income of the assessee for bogus sales and purchases. The Tribunal's order was found to be passed in ignorance of the Supreme Court's decision, prompting the Court to direct the Revenue to file an application under section 254(2) to bring the Supreme Court's decision to the Tribunal's notice for appropriate action. The appeal was disposed of with these directions.