https://www.taxtmi.com/highlights?id=77127 Rectification application u/s 254 - Tribunal not followed the decision on the identical facts by the Coordinate Bench which is confirmed by this Court - The Court emphasized the principle of judicial consistency and the hierarchical nature of judicial decisions, reiterating that lower tribunals are bound by the decisions of their supervisory jurisdictions. As such, ignoring these precedents constituted a mistake apparent from the record, necessitating a review and correction of the Tribunal's decision. The Court remanded the case back to the Tribunal, directing it to amend its decision in alignment with the precedents highlighted by the petitioner. en-us Sat, 04 May 2024 15:12:41 +0530 Sat, 04 May 2024 15:12:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77127 Rectification application u/s 254 - Tribunal not followed the decision on the identical facts by the Coordinate Bench which is confirmed by this Court - The Court emphasized the principle of judicial consistency and the hierarchical nature of judicial decisions, reiterating that lower tribunals are bound by the decisions of their supervisory jurisdictions. As such, ignoring these precedents constituted a mistake apparent from the record, necessitating a review and correction of the Tribunal's decision. The Court remanded the case back to the Tribunal, directing it to amend its decision in alignment with the precedents highlighted by the petitioner. Highlights Income Tax Sat, 04 May 2024 15:12:41 +0530 https://www.taxtmi.com/highlights?id=77127