The assessee simultaneously challenged the reassessment proceedings before the Rajasthan High Court. It held that once the Revenue’s SLP had been dismissed, the Rajasthan High Court judgment had attained finality and continued to hold the field. Accordingly, the ITAT found no infirmity in the CIT(A)’s order, dismissed all grounds raised by the Revenue and consequently dismissed the Revenue’s appeal. Key principle: A Revenue challenge does not dilute the binding effect of a jurisdictional High Court judgment. In the meanwhile, the assessee had also assailed the reassessment proceedings by way of a writ petition before the Hon’ble Rajasthan High Court.