Judicial discipline cannot be ignored unless decision is suspended by a competent Court

KEM Hospital and Seth G. S. Medical College Employees’ Co-operative Credit Society Ltd. Vs Income Tax Officer (Bombay High Court) In the course of the hearing, learned counsel for the petitioner has placed before us a copy of CBDT Circular No.530 dated 06.03.1989 whereby it was clarified that when the demand in dispute relates to an issue that has been decided in favour of the assessee in an earlier year by the appellate authority or Court in assessee’s own case, the assessee would not be treated as an assessee in default in respect of the amount attributable to such disputed point. This C...