Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 1861 - AT - Income TaxAddition u/s 43D - Accrued interest on loans which are classified as "Non-performing Assets" - CIT-A deleted the addition - HELD THAT:- CIT(A) has adjudicated the impugned issue following the judgment of the jurisdictional High Court in Canfin Homes Ltd. - [2011 (8) TMI 178 - KARNATAKA HIGH COURT] . Unless and until the operation of the order of the judgment of the Hon’ble High Court is stayed by the Hon’ble Apex Court, it holds the field and all subordinate judicial authorities are supposed to follow the judgment of the jurisdictional High Court. Mere filing of SLP does not amount to stay of the operation of the judgment of the Hon’ble High Court. Under these circumstances, we are of the view that CIT(A) has rightly adjudicated the issue in the light of the judgment of the jurisdictional High Court and we find no infirmity therein. Accordingly, we confirm his order. - Decided against revenue.
|