| COURT: | Supreme Court |
| CORAM: | Abhay Manohar Sapre J, Ranjan Gogoi J |
| SECTION(S): | 10(19A) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | annual value, interpretation of statutes, res judicata |
| COUNSEL: | Gopal Subramanium |
| DATE: | December 5, 2016 (Date of pronouncement) |
| DATE: | December 6, 2016 (Date of publication) |
| AY: | 1978-79 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 10(19A): Though principles of res judicata do not apply, the Dept should not endlessly pursue matters which have attained finality in earlier years. Principles of interpretation of statutes explained. Interplay between s. 10(19A), s. 23 of the Income-tax Act & s. 5(iii) of the Wealth-tax Act explained | |
Though principle of res judicata does not apply to income-tax proceedings and each assessment year is an independent year in itself, yet, in our view, in the absence of any valid and convincing reason, there was no justification on the part of the Revenue to have pursued the same issue again to higher Courts. There should be a finality attached to the issue once it stands decided by the higher Courts on merits. This principle, in our view, applies to this case on all force against the Revenue
Recent Comments