ITAT bound to follow binding decisions of jurisdictional high court

Brief of the Case

Bombay High Court held In the case of HDFC Bank Ltd. vs. DCIT that it is not open for the tribunal to disregard the binding decision of jurisdictional high court. Once there is a binding decision of jurisdictional high Court, the same continues to be binding on all authorities within the State till such time as it stayed and / or set aside by the Apex Court or this very Court takes a different view on an identical factual matrix or larger bench of this Court takes a view different fro

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