Dear Subscriber,
Prakash Vasantbhai Golwala vs. ACIT (ITAT Ahmedabad)
The Bench has passed a corrigendum order dated 29.10.2013 and observed that its observations that the Counsel had not been fair by not citing decisions which were against him were unwarranted. It has expunged those observations. However, nothing has been said regarding its decision not to follow the binding judgement of the jurisdictional Gujarat High Court in CIT v/s. Rasiklal Balabhai 119 ITR 303 (Guj) and in choosing to follow judgements of non-jurisdictional High Courts which were against the assessee.
Regards,
Editor,
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