Subordinate courts must follow other High Courts if no local ruling exists; Supreme Court dismissals don't alter precedent.

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....Deduction u/s 54 - It is settled law that when on an issue there is no jurisdictional High Court decision other Hon’ble High Court decision has to be followed by subordinate Courts and Tribunals. Hence Ld.CIT(a) should have followed the Hon’ble High Court decisions in favour of assessee. - The dismissal of S.L.P without a speaking order by Hon’ble Supreme Court does not in any manner reduce the precedential value of Hon’ble High Court decision. - AT....