Allowing the petition the Court held that the regular assessment carried out in the assessment year 2018-19, and scrutiny assessment carried out in the assessment year 2020-21, also dealt with the issues which were subject matter of the assessment year for the Assessment year 2019-20. The notice and order is quashed and set side. Court held that the rule of res judicata does not apply to Income-tax, i. e., each assessment year is different. However, the Assessing Officer needs to apply the principle of consistency, before passing the assessment order. Followed, Radhasoami Satsang v.CIT (1992) 193 ITR 321(SC). (AY.2019-20)
Hydrocarbons Education and Research Society v. ACIT (2024)462 ITR 216 (Delhi)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Res Judicata-Notice on basis of issues decided favourably in earlier years-Notice and order disposing the objection is quashed. [S.148, 148A(b), 148A(d), Art. 226]