Where income has been assessed under the head of business income for past assessment years, it was held that there are no justifiable grounds for AO to change the income heads in the particular AY in contradiction with the views taken in past Assessment Years. The view of Supreme Court in the case of CIT v. Excel Industries Ltd. (2013) 358 ITR 295 (SC) has been taken, as per which if certain facts were allowed to attain finality in particular year, then contradictory opinion on those very facts in subsequent years are not allowed. (AY. 2012-13)
Deep Multiplex P. Ltd. v. Dy. CIT (2020) 190 DTR 451 / 205 TTJ 916 (SMC) (Ahd.)(Trib.)
S. 28(i) : Business income-Income from house property-Rule of consistency-No justifiable reasons to change income head-Income continued to be assessed under the head of business income. [S. 22]