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TMI Blog2022 (3) TMI 1348X X X X Extracts X X X X X X X X Extracts X X X X ..... e when contrary views are available, applies to the authorities acting under a neutral High Court, namely, which has not expressed any opinion for or against - on that point. Once the jurisdictional High Court decides a particular issue in a particular manner, that manner has to be mandatorily followed by all the authorities acting under it so long as it holds the field and is not deactivated by the Hon ble Supreme Court - we bound to follow the view taken by the Hon ble jurisdictional High Court. The ld. AR failed to draw my attention towards any other subsequent decision rendered by the Hon ble Bombay High Court in favour of the assessee on this issue. Therefore, hold that the authorities below were justified in denying the benefit of e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... London in his own name. The AO opined that the exemption claimed by the assessee u/s.54F amounting to ₹ 46,59,600/- could not be granted because the new property was purchased by the assessee s son in his own name. The ld. CIT(A) affirmed the order passed by the AO relying on the judgment of Hon ble jurisdictional High Court in Prakash Vs. ITO (2009) 312 ITR 40 (Bom.), against which the assessee has approached the Tribunal. 4. I have heard both the sides and gone through the relevant material on record. The primary question for consideration is as to whether exemption u/s.54 can be allowed when the new property purchased by the assessee in the name of someone else other than self? The ld. CIT(A) has relied on the judgment of Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B to that extent. 7. Ergo, it is overt that the decisions have been rendered at variance by the two sets of the Hon ble High Courts one in favour of the assessee and other in favour of the Revenue. It goes without saying that the decision of a High Court is binding on the all subordinate Courts and authorities or Tribunal under its superintendence throughout the territories in relation to which it exercises jurisdiction within the terms of Article 227 of the Constitution of India. When discordant views are rendered by different High Courts, an inferior authority under one of such High Courts, is bound to follow its jurisdictional High Court notwithstanding that the other view of the non-jurisdictional High Court may sound more appealin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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