https://www.taxtmi.com/caselaws?id=75598 The High Court upheld its previous decision in CIT v. Rajanikant Schnelder and Associates P. Ltd., dismissing the tax case appeals filed by the Revenue. The court emphasized the importance of following precedent and established legal principles in interpreting tax laws, citing Supreme Court judgments. Despite arguments based on a subsequent Bombay High Court judgment, the court maintained consistency with its earlier ruling, highlighting the binding authority of its previous decision and the timing of judgments involved. The case outcome reaffirmed the interpretation of the disallowance of deductions under section 80HHC in MAT assessments based on adjusted book profits under section 115JB of the Income-tax Act, 1961. en-us Tue, 17 Nov 2009 00:00:00 +0530 Thu, 31 Jan 2013 18:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75598 The High Court upheld its previous decision in CIT v. Rajanikant Schnelder and Associates P. Ltd., dismissing the tax case appeals filed by the Revenue. The court emphasized the importance of following precedent and established legal principles in interpreting tax laws, citing Supreme Court judgments. Despite arguments based on a subsequent Bombay High Court judgment, the court maintained consistency with its earlier ruling, highlighting the binding authority of its previous decision and the timing of judgments involved. The case outcome reaffirmed the interpretation of the disallowance of deductions under section 80HHC in MAT assessments based on adjusted book profits under section 115JB of the Income-tax Act, 1961. Case-Laws Income Tax Tue, 17 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75598