https://www.taxtmi.com/caselaws?id=64074 In income-tax proceedings, res judicata does not bar reconsideration of a matter in a later year unless the earlier issue was finally and conclusively decided, so the genuineness of the lease arrangement could be examined again. For determining annual letting value under section 23(1)(a), actual rent is only a guide where the letting is genuine and at arm's length; on these facts, the stated rent was unreliable, the Assessing Officer's estimate lacked material support, and municipal rateable value was treated as the proper indicator. The claimed expenditure was disallowed because no material showed it was incidental to business. en-us Mon, 29 Dec 1997 00:00:00 +0530 Thu, 03 Feb 2011 16:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64074 In income-tax proceedings, res judicata does not bar reconsideration of a matter in a later year unless the earlier issue was finally and conclusively decided, so the genuineness of the lease arrangement could be examined again. For determining annual letting value under section 23(1)(a), actual rent is only a guide where the letting is genuine and at arm's length; on these facts, the stated rent was unreliable, the Assessing Officer's estimate lacked material support, and municipal rateable value was treated as the proper indicator. The claimed expenditure was disallowed because no material showed it was incidental to business. Case-Laws Income Tax Mon, 29 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64074