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2015 (8) TMI 1543 - AT - Income TaxDepreciation on the windmill - Addition on the ground that the Revenue has filed an appeal before the Apex Court against the judgment of the Madras High Court in Velayudhaswamy Spinning Mills Ltd. [2010 (3) TMI 860 - MADRAS HIGH COURT] - AO admits in the assessment order that the issue before him is similar to one that was decided by the Madras High Court - HELD THAT:- No infirmity in the order of the lower authority in following the binding judgment of the Jurisdictional High Court. A mere pendency of SLP before the Apex Court cannot be a reason for not following the judgment of the Jurisdictional High Court. It is not the case of the Revenue that the operation of the judgment of the Madras High Court was stayed by the Apex Court. In those circumstances, this Tribunal do not find any infirmity in the order of the lower authority. Accordingly, the same is confirmed.
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