https://www.taxtmi.com/caselaws?id=55072 The Tribunal affirmed that the Income Tax Officer (ITO) should have granted interest under section 214 in line with the Gujarat High Court decision. The failure to do so constituted a mistake apparent from the record, requiring rectification under section 154 of the Income-tax Act. The Tribunal emphasized the ITO's obligation to adhere to the jurisdictional High Court's binding decisions, rejecting arguments based on conflicting interpretations from other High Courts. The appeal was dismissed, upholding the assessee's entitlement to interest as per the Gujarat High Court ruling. en-us Mon, 01 Jul 1991 00:00:00 +0530 Tue, 23 Nov 2010 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55072 The Tribunal affirmed that the Income Tax Officer (ITO) should have granted interest under section 214 in line with the Gujarat High Court decision. The failure to do so constituted a mistake apparent from the record, requiring rectification under section 154 of the Income-tax Act. The Tribunal emphasized the ITO's obligation to adhere to the jurisdictional High Court's binding decisions, rejecting arguments based on conflicting interpretations from other High Courts. The appeal was dismissed, upholding the assessee's entitlement to interest as per the Gujarat High Court ruling. Case-Laws Income Tax Mon, 01 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55072