https://www.taxtmi.com/caselaws?id=55056 The Tribunal upheld the CIT(A)'s direction to grant interest under section 214 of the Income-tax Act, 1961, in accordance with the Gujarat High Court decision. It held that the Income-tax Officer's failure to grant interest was a mistake apparent on the record, emphasizing the importance of following jurisdictional High Court decisions. The Tribunal clarified that conflicting Supreme Court decisions do not negate prior High Court rulings and that errors due to subsequent legal interpretations can be rectified under section 154. The Department's appeal was dismissed, affirming the grant of interest to the assessee. en-us Mon, 01 Jul 1991 00:00:00 +0530 Wed, 24 Nov 2010 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55056 The Tribunal upheld the CIT(A)'s direction to grant interest under section 214 of the Income-tax Act, 1961, in accordance with the Gujarat High Court decision. It held that the Income-tax Officer's failure to grant interest was a mistake apparent on the record, emphasizing the importance of following jurisdictional High Court decisions. The Tribunal clarified that conflicting Supreme Court decisions do not negate prior High Court rulings and that errors due to subsequent legal interpretations can be rectified under section 154. The Department's appeal was dismissed, affirming the grant of interest to the assessee. Case-Laws Income Tax Mon, 01 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55056