Acit, Madurai vs Laxmi Selvaraaj Tex Private Ltd., ... on 31 May, 2017
4. Having heard the Ld.DR, this Tribunal finds that the
Ld.CIT(Appeals) after reproducing the observation made by the
Hon'ble Madras High Court in Pentamedia Graphics Ltd supra
allowed the claim of the assessee. This Tribunal is of the
considered opinion that the Hon'ble Madras High court being the
Jurisdictional High Court, it is binding on all authorities. The mere
pendency of SLP before the Apex Court cannot be a reason to
ignore the decision of the Hon'ble Madras High Court. Since the
Ld.CIT(Appeals) has followed the judgment of the Hon'ble Madras
High Court, this Tribunal do not find any reason to interfere with the
order of the lower authority. Accordingly the same is confirmed.