2007 (8) TMI 753

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....venue is aggrieved by an order dated 7-7-2007 passed by the Income-tax Appellate Tribunal, Delhi Bench "E" in ITA No. 473/Delhi/2006 relevant for the assessment year 2001-02. 2. Admit. 3. After hearing learned counsel for the parties, the following substantial question of law is framed for consideration : "Whether, while deciding the appeal of the assessee, the Income-tax Appellate Tribun....

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....roprietary demand that we should pay respect and follow the orders of the co-ordinate Benches wherein on identical facts and identical issue has been decided and hence in this view of the matter and respectfully following the decisions (supra) of the Tribunal, the issue involved in the grounds of appeal of the assessee is decided in favour of the assessee and against the revenue and consequent upo....

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....case. The Tribunal has not made any attempt whatsoever to consider or distinguish the judgment of the Bombay High Court in Veekaylal Investment Co. (P.) Ltd.'s case (supra ) on which reliance was placed by the revenue. Judicial propriety, to which the Tribunal has adverted, also demands that when there is a judgment of a superior court, in this case the Bombay High Court, that judgment should be c....

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.... of the view that it would be appropriate if the matter is remanded to the Tribunal for a fresh consideration on merits. If the Tribunal continues to hold the view that the decision of the Bombay High Court is not applicable either on facts or law, it should clearly state the reasons for its conclusion. The Tribunal should also consider the decision of any other superior Court cited before it by a....