2009 (11) TMI 62

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....dvocate, for the appellant-assessee. JUDGEMENT SATISH KUMAR MITTAL, J. The assessee has filed this appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as `the Act'), against the order dated 12.6.2009, passed by the Income Tax Appellate Tribunal, Delhi Bench, New Delhi (hereinafter referred to as `the ITAT') in ITA No. 788/Del/2009, pertaining to the assessment ....

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....tion 143 (1) of the Act and a refund of Rs. 24,80,660/- was granted vide order dated 14.9.2007. Thereafter, the case was taken up for scrutiny and processed under section 143 (3) of the Act. Vide order dated 28.3.2008, the Assessing Authority disallowed the claim made by the assessee under section 80-IB of the Act, which was claimed by the assessee being the profits derived from industrial underta....

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....ide the order of the CIT (A), while observing as under:- "We have carefully considered the rival submissions in the light of the material placed before us. According to precedent, the decision of the Hon'ble jurisdictional High Court will prevail over the decision of another High Court. The decision of Hon'ble jurisdictional High Court in the case of Liberty India (supra) being directly on the ....

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.... law. 4. During the course of hearing, it revealed that the decision of this Court in M/s Liberty India v. CIT, Karnal, 2007 CTR 243, which has been relied upon by the learned ITAT in the aforesaid impugned order, has been affirmed by the Hon'ble Supreme Court in Liberty India v.Commissioner of Income Tax, (2009) 28 Direct Taxes Reporter Judgments 73, wherein while dismissing the appeal of the ....