TMI Blog2020 (7) TMI 754X X X X Extracts X X X X X X X X Extracts X X X X ..... e received, when the Assessee follows the Mercantile System of Accounting and income is to be assessed on accrual basis ? - HELD THAT:- Assessee's own case for the previous Assessment Year 2008-2009 has been decided in favour of the Assessee [ 2014 (11) TMI 1233 - MADRAS HIGH COURT] . Since the issue raised in this appeal had already been decided against the department by the Supreme Court in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court appearing from their respective residences. 2. This Tax Case has been filed by the Revenue, calling in question the correctness of the order passed by the Income Tax Appellate Tribunal, D Bench dated 12.9.2013 in I.T.A.No.1424/Mds/2013, for the Assessment Year 2009-10, by raising the following substantial questions of law: (i) Whether in the facts and circumstances of the case, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -10? 3. Heard Mr.M.Swaminathan, learned Senior Standing Counsel appearing for the Appellant/Revenue and Mr.S.Sridhar, learned counsel appearing for the Respondent/Assessee. 4. The learned Senior Standing Counsel for the Appellant/Revenue submitted that the Assessee's own case for the previous Assessment Year 2008-2009 has been decided in favour of the Assessee by a co-ordinate Bench of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax (Appeals), however, laying emphasis on the decision of this Court in Ignifluid Boilers (P) Ltd., case (supra), allowed the appeal of the assessee and the department's appeal before the Tribunal was dismissed holding that the decision of the jurisdictional High Court is binding on the Tribunal and therefore there was no reason to differ with the findings of the Commissioner of Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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