https://www.taxtmi.com/caselaws?id=12636 Bombay HC held the petitioner-bank entitled to claim deduction under s.35B for expenses on maintenance of foreign branches and international division, finding its activities comparable to another bank previously allowed the benefit. The Court ruled the Assessing Officer was bound by the Tribunal's judgment and erred in distinguishing it on untenable grounds, emphasizing hierarchical judicial discipline and the duty of lower authorities to follow higher fora. Petition allowed and relief granted to the petitioner-bank. en-us Mon, 30 Jul 2001 00:00:00 +0530 Fri, 03 Oct 2025 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12636 Bombay HC held the petitioner-bank entitled to claim deduction under s.35B for expenses on maintenance of foreign branches and international division, finding its activities comparable to another bank previously allowed the benefit. The Court ruled the Assessing Officer was bound by the Tribunal's judgment and erred in distinguishing it on untenable grounds, emphasizing hierarchical judicial discipline and the duty of lower authorities to follow higher fora. Petition allowed and relief granted to the petitioner-bank. Case-Laws Income Tax Mon, 30 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12636