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Order solely based on judgement which was over-ruled by Apex Court is liable to be quashed

Case Law Details

Case Name
CIT Vs New Punjab Motor Transport (Jharkhand High Court)
Date of Judgement/Order
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CIT Vs New Punjab Motor Transport (Jharkhand High Court) Jharkhand High Court held that order solely based on the judgement which has been later on over-ruled by the Hon’ble Apex Court requires interference and hence the order passed by ITAT is liable to be quashed and set aside. Facts- The Assessee filed return disclosing total income of Rs. 9,36,120/-. The return was selected for scrutiny under CASS. Finally, AO completed the assessment u/s. 143(3) of the Act determining total income at Rs. 8,99,42,090/-. CIT(A) vide order dated 29-08-2014 has partly allowed the appeal of the assessee and ...
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