https://www.taxtmi.com/caselaws?id=67088 The Tribunal held that the principle of res judicata applied in income tax proceedings, emphasizing finality and certainty in litigation. It found no justification for deviating from the earlier individual assessment to assess income as an Association of Persons (AOP). The Tribunal also ruled that the Supreme Court's decision in CIT vs. Indira Balkrishna favored the assessee, as there was no evidence of the co-heirs forming an AOP. Consequently, the appeal by the assessee was allowed, and the Revenue's cross-objection was dismissed. en-us Tue, 13 Aug 1985 00:00:00 +0530 Wed, 09 Mar 2011 10:27:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67088 The Tribunal held that the principle of res judicata applied in income tax proceedings, emphasizing finality and certainty in litigation. It found no justification for deviating from the earlier individual assessment to assess income as an Association of Persons (AOP). The Tribunal also ruled that the Supreme Court's decision in CIT vs. Indira Balkrishna favored the assessee, as there was no evidence of the co-heirs forming an AOP. Consequently, the appeal by the assessee was allowed, and the Revenue's cross-objection was dismissed. Case-Laws Income Tax Tue, 13 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67088