Binding precedent applied to Revenue's special leave petitions, with delay condoned and assessment proceedings directed accordingly.

Delay was condoned and the Supreme Court disposed of the Revenue's special leave petitions by applying its earlier decision governing the same controversy. The assessing officers were directed to proceed in accordance with that settled legal position, while the assessees were left free to pursue further remedies as permitted by law.

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Outcome: Delay was condoned, and the special leave petitions filed by the Revenue were disposed of by applying the earlier decision governing the controversy; the assessing officers were directed to proceed in accordance with that law, with further remedies left open to the assessees as permitted by law.

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