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TMI Blog2010 (3) TMI 1121X X X X Extracts X X X X X X X X Extracts X X X X ..... a miscellaneous application filed by the revenue u/s.254[2] of the I.T.Act. 2. Brief facts leading to this miscellaneous application are that the assessee had filed a return of income for the A.Y 1998-99 on 30/11/98 declaring the total income at ₹ 11,62,10,850/- u/s.115JA of the Act. AO completed the assessment assessing the total income at ₹ 34,63,78,187/-. This order was subsequen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C] 2. CIT vs. Echjay Forgings P. Ltd. 251 ITR 15 [Bom] 3. Special Bench decision in JCIT vs. M/s Usha Machine Industries Ltd. [2007] 104 ITR {S.B.} [Kol] Thereafter, by the Finance Act, 2009 clause [g] has been inserted in Explanation to sec.115JA[2]of the Act w.r.e.f. A.Y 1998-99 and subsequent years providing that provisions for doubtful debts and advances are disallowable while ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubsequent to the Tribunal s order striking down the notice, there is no mistake apparent from the order of the Tribunal. He submitted that as held by the Hon ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd. [206 ITR 727], the decision of the High Court is binding on the sub-ordinate courts and authorities or Tribunal in its superintendence throughout the territori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Tribunal s order is dated 17th March, 2009 whereas the retrospective amendment of the Act has received the assent of the President of India on 19-8-2009 i.e. after the order of the Tribunal was passed. Similar were the facts of the case before the Hon ble Bombay High Court in the case of Sudha S. Mehta [cited supra], wherein the Tribunal s order was dated 26-6-96 whereas the law was amend ..... X X X X Extracts X X X X X X X X Extracts X X X X
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