Binding precedent on the same issue led the Court to allow the appeals in favour of the assessee.

The Supreme Court held that the appeals were governed by its earlier binding ruling in Bharti Cellular Limited (now Bharti Airtel Limited) v. Assistant Commissioner of Income Tax, Circle 57, Kolkata & Anr., as the issue was stated to be squarely covered by that decision. Applying the same precedent, the Court disposed of the appeals by directing that the parties remain bound by it. The issue was therefore decided in favour of the assessee, and the appeals were allowed.

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Issues: Whether the appeals were to be allowed by applying the earlier binding decision on the same issue.

Analysis: The issue raised was stated to be squarely covered by the Court's earlier decision in Bharti Cellular Limited (now Bharti Airtel Limited) v. Assistant Commissioner of Income Tax, Circle 57, Kolkata & Anr. The appeals were disposed of by following that decision and by directing that the parties would be bound by it.

Conclusion: The issue was decided in favour of the assessee, and the appeals were allowed.

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