https://www.taxtmi.com/caselaws?id=16866 The High Court upheld the Tribunal's jurisdiction to rectify orders under section 254(2) and affirmed the taxability of interest on sticky loans on an accrual basis based on Supreme Court judgments. The Court emphasized the binding nature of Supreme Court decisions on all Tribunals and courts, supporting the Tribunal's rectification of the order. All three questions raised by the assessee were answered in favor of the Tribunal, concluding that the rectification was justified and in accordance with established legal principles. en-us Thu, 24 Jul 1997 00:00:00 +0530 Sat, 12 Sep 2009 16:37:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16866 The High Court upheld the Tribunal's jurisdiction to rectify orders under section 254(2) and affirmed the taxability of interest on sticky loans on an accrual basis based on Supreme Court judgments. The Court emphasized the binding nature of Supreme Court decisions on all Tribunals and courts, supporting the Tribunal's rectification of the order. All three questions raised by the assessee were answered in favor of the Tribunal, concluding that the rectification was justified and in accordance with established legal principles. Case-Laws Income Tax Thu, 24 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16866