https://www.taxtmi.com/article/detailed?id=7387 Where a jurisdictional High Court has declared the law on a tax question, assessing officers may make prima facie adjustments under section 143(1) consistent with that binding precedent even if the issue is debatable. The Supreme Court applied that principle to allow an AO's prima facie treatment of disputed expenditure as capital with amortisation, reversing lower authorities that had declined such adjustments on the ground of debatable issues. Taxpayers are advised to follow binding precedent in returns and tender alternative claims for AO consideration. en-us Tue, 25 Apr 2017 08:11:29 +0530 Tue, 25 Apr 2017 08:11:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7387 Where a jurisdictional High Court has declared the law on a tax question, assessing officers may make prima facie adjustments under section 143(1) consistent with that binding precedent even if the issue is debatable. The Supreme Court applied that principle to allow an AO's prima facie treatment of disputed expenditure as capital with amortisation, reversing lower authorities that had declined such adjustments on the ground of debatable issues. Taxpayers are advised to follow binding precedent in returns and tender alternative claims for AO consideration. Articles Income Tax Tue, 25 Apr 2017 08:11:29 +0530 https://www.taxtmi.com/article/detailed?id=7387