NFAC bound by decision of jurisdictional High Court or ITAT, where AO was situated

Nagesh Consultants Vs DCIT (ITAT Bangalore) Arguments of the assessee: 1. that the decision of the Hon. Jurisdictional High Court of the assessee must have been followed by the NFAC. Observations of the Hon. Tribunal: 1. If there is conflicting views rendered by different High Courts, the view taken by the jurisdictional High Court is binding in the jurisdictional area of the respective High Court. 2. The Hon. Bombay HC in  Subramaniam -vs.- Siemens India Ltd. (1985) 156 ITR 11 (Bom.) held that in the case where there is conflict of views between different High Courts, authorities must follow...