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TMI Blog2014 (4) TMI 973X X X X Extracts X X X X X X X X Extracts X X X X ..... sets and properties are attached, does not mean that the liability to pay interest will not arise - merely because certain aspects were not considered or that relevant provisions were not brought to the notice of the Court, is not enough to ignore and brush aside a binding precedent - The remedy of correcting an erroneous judgment and order is to file an appeal challenging it and, then, convince the Appeal Court in exercise of such appellate power to quash or reverse such judgment – thus, the order of the Tribunal is set aside – Decided in favour of Revenue. - Income Tax Appeal No. 3365 of 2010, Income Tax Appeal No. 3371 of 2010 - - - Dated:- 1-4-2014 - S. C. Dharmadhikari And G. S. Kulkarni,JJ. For the Appellants: Mr. A. R. Malhot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue involved in this appeal is not covered by the Judgment of the Division Bench of this Court rendered on 7.3.2012 in Income Tax Appeal no.3334 of 2010 (The Commissioner of Income Tax-Central II, Mumbai. Vs. Divine Holdings Pvt.Ltd.). This Judgment is relied upon by Mr.Malhotra and he submits that the point is covered by the same in favour of the Revenue. Mr.Malhotra submits that both the questions be answered in favour of the Revenue and the Tribunal's order be set aside. It is submitted by Shri.Toprani that the Division Bench rendering the judgment in Divine Holdings Pvt.Ltd. (supra) has failed to consider several judgments of Hon'ble Supreme Court and the orders of this Court taking a view that when the assets and properties of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Thus, the interest is chargeable and merely because the assets and properties are attached, does not mean that the liability to pay interest will not arise. 5. Once such is the binding judgment of a co-ordinate Bench, then, we cannot ignore it on a spacious plea that the Division Bench did not consider the arguments of the nature canvassed before us by Mr.Toprani. Equally, some aspects of the controversy were not noticed in detail including judgments and orders of the Supreme Court and this Court on the point, is the submission which will not enable us to ignore the binding judgment. We have seen the order passed by the Hon'ble Supreme Court, a copy of which has been annexed in the compilation (Exh.G) page 177 and 178. This is an o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Equally in another judgment of Hon'ble Supreme Court in the case of Director of Settlements, A.P. Ors. Vs. M.R.Apparao Anr. reported in AIR 2002 SC 1598 , it is held by the Hon'ble Supreme Court that merely because certain aspects were not considered or that relevant provisions were not brought to the notice of the Court, is not enough to ignore and brush aside a binding precedent. It is clear that the judgment in the case of Divine Holdings Pvt.Ltd. (supra) is binding on us. The judicial discipline, therefore, requires that we follow it even if the respondent - assessee may term the same as erroneous. The remedy of correcting a erroneous judgment and order is to file an appeal challenging it and, then, convince the Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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