| Case ID |
f58b9cbc-cbd6-4eac-b57d-08e6dd9f608c |
| Body |
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| Case Number |
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| Decision Date |
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| Hearing Date |
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| Decision |
The appeal was dismissed by the Allahabad High Court, confirming that the law declared by the Apex Court is binding on all courts and authorities. The court held that a decision contrary to law can be rectified under section 154 of the Income-tax Act, 1961. The court found no merit in the appeal, affirming the decision from the case of CIT v. Steller Investment Ltd. [2001] 251 ITR 263 (SC) and stating that the mistake in the decision could be rectified under the specified section of the law. |
| Summary |
In the case of Commissioner of Income Tax v. Bindal Industries Ltd., the Allahabad High Court addressed the issue of rectification of mistakes as per section 154 of the Income-tax Act, 1961. The court emphasized that the law set forth by the Apex Court must be adhered to by all lower courts and authorities. The judgment highlighted that any decision that is contrary to established law is subject to rectification under section 154, thereby ensuring that the legal framework operates effectively and justly. The ruling reinforced the importance of following precedents set by the Supreme Court, as seen in the referenced case of CIT v. Steller Investment Ltd. The dismissal of the appeal by the court signifies a commitment to uphold legal correctness and rectify errors where necessary, ensuring that justice is served in accordance with the law. This ruling serves as a critical reference for future cases involving tax law and rectification procedures. |
| Court |
Allahabad High Court
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| Entities Involved |
Commissioner of Income Tax,
Bindal Industries Ltd.
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| Judges |
PRAKASH KRISHNA,
R. R. AWASTHI
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| Lawyers |
Sri A. N. Mahajan
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| Petitioners |
Commissioner of Income Tax
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| Respondents |
Bindal Industries Ltd.
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| Citations |
2010 SLD 2917,
(2010) 328 ITR 160
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| Other Citations |
CIT v. Steller Investment Ltd. [2001] 251 ITR 263 (SC)
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| Laws Involved |
Income-tax Act 1961
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| Sections |
154
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