2016 (7) TMI 1394

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....kaj Jain ORDER PER C.N. PRASAD, JM: This appeal is filed by the Revenue against the order of the Ld. CIT(A)-3, Mumbai dated 4.8.2014 pertaining to assessment year 2010-11. 2. The Revenue has raised the following grounds of appeal: "1. Whether on facts and in circumstances of the case and in law, the Ld. CIT(A) was justified in holding that short deduction of tax at source will....

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....ubmits that the issue in appeal has been squarely covered in favour of the assessee in its own case therefore request for sustaining the order of the Ld. CIT(A) on this issue. 4. The Ld. Departmental Representative placed reliance on the order of the Assessing Officer. 5. We have heard the rival contentions and perused the orders of the authorities below and the decision of the Co-ordinate B....

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....tional High Court has not decided the issue. Thus,we are faced with two diagonally opposite views about applicability of the provisions of section 40 (a)(ia)of the Act. We find that the Hon'ble Bombay High Court has in the case of Ashok Kumar Parekh(186 IT R212)has dealt with the binding precedence of the High Court judgments.Here,we would also like to reproduce the a portion of the judgment deliv....

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....ke the view which is in favour of the assessee and not against him. Similarly, if the Tribunal has decided a point in favour of the assessee,he cannot ignore that decision and take a contrary view, because that would equally prejudice the assessee." Considering the above,we are taking the view which is in favour of the assessee.We are following the judgment of Samir Tekriwal (supra)of the....