Assessment order which gives effect to a binding precedent cannot be regarded as being erroneous or prejudicial to interests of Revenue

CASE LAWS DETAILS DECIDED BY: HIGH COURT OF BOMBAY, IN THE CASE OF: Prudential Assurance Company Ltd. Vs. DIT (Int’l Taxation), APPEAL NO: Writ Petition No. 866 of 2010, DECIDED ON April 29, 2010 RELEVANT PARAGRAPH ORAL JUDGMENT (Per Dr. D.Y. Chandrachud, J.) 1. Rule. With the consent of the learned counsel appearing on behalf of the petitioner and the learned counsel appearing on behalf of the Revenue, the petition is taken up for hearing and final disposal. Counsel for the respondents waives service. 2. The petitioner is a company incorporated in the United Kingdom and...