2012 (3) TMI 191

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..... n State Bank of Travancore & Ors. v. Central Board of Director Taxes & Anr. [2005 -TMI - 9572 - KERALA High Court] allowed the claim of another Bank in a similar situation - Held that:- Writ petition is allowed as to follow the binding judgments of a jurisdictional High Court in the above mentioned case and not ignoring merely on the ground that a Special Leave Petition has been filed before the S .....

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..... the Income Tax Act. The dispute which is the subject matter of the above writ petition rose for the financial year 2000-2001. The 2nd respondent, however, rejected the claim of relief under Section 89(1) and assessed the same to tax and raised a demand of tax and interest by way of Exhibit P1. The 3rd respondent also issued notice proposing imposition of penalty by Exhibit P2. 2. The petition .....

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..... erely on the ground that a Special Leave Petition has been filed before the Supreme Court. Evidently, there is no stay obtained from the Supreme Court, in which event, the situation would necessarily have been different. 4. In the instant case, the issue raised being covered against the Department by the above referred Division Bench judgment, I am of the view that the writ petition is to be all .....

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