9911796707
TMI Blog2020 (8) TMI 661X X X X Extracts X X X X X X X X Extracts X X X X ..... view which is supported by various judgments including the judgment of Hon ble jurisdiction High Court in case of Seveta Construction Co. [ 2016 (12) TMI 1603 - RAJASTHAN HIGH COURT] . The judgment of jurisdiction High Court is binding on this Tribunal specifically Jaipur and Jodhpur Benches of the Tribunal. The decision of Hon ble Madras High Court was not relied upon or cited by the Revenue at the time of hearing of the appeal. Further, even in case of divergent view of the Hon ble High Courts on a issue the Tribunal is bound by the view taken by the Hon ble jurisdiction High Court. Hence, the decision which was not cited by the reviewed or relied upon by the Revenue at the time of hearing cannot be a ground for mistake in the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed by the assessee before the Hon'ble Supreme Court has also been dismissed ([2018] 259 Taxman 220 (SC)). The Id. D/R on the hand tried to justify the order of the lower authorities on the issue', whereas the assessee has not disclosed the correct amount of turnover which was detected during the investigation carried out in case of Shri P.C. Vijayvargiya. The assessee himself admitted the addition made by the AO and therefore, it was known to the assessee that he has concealed the particulars of income. While passing the order, the Hon'ble ITAT has not considered the latest judgment of Hon'ble Madras High Court in the case of Sundaram Finance Ltd., therefore, in the impugned order has been made in this regard which is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r view has been taken as taken by this Tribunal in this case therefore, the jurisdiction of the Tribunal U/s 254(2) of the Act does not permit the review of its own order. He has relied upon the decision of Hon ble Punjab and Haryana High Court in case of CIT vs. M/s Vardhman Spinning 93 Taxman 453 as well as decision of Hon ble Delhi High Court in case of Shri Ras Bihari Bansal vs. CIT 170 taxman 31. 5. We have considered the rival submissions as well as relevant material on record. The Revenue has raised a plea in the present Misc. Application that the Tribunal has decided the appeal of the assessee by following decisions of Hon ble Karnataka High Court as well as other decisions on the point of validity of initiation of penalty procee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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