https://www.taxtmi.com/caselaws?id=121526 The ITAT dismissed the revenue's appeals, upholding the CIT(A)'s decisions. It confirmed that lease rent income should be treated as income from house property, not as business income. The inclusion of notional benefits from interest-free deposits in computing annual letting value was rejected. Reopened assessments for years beyond the four-year limit were quashed, emphasizing the importance of consistency in judicial decisions and the principle of res judicata. The ITAT highlighted the need to abide by settled issues unless reversed by a superior court. en-us Fri, 06 Mar 2009 00:00:00 +0530 Tue, 31 Jul 2012 13:06:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121526 The ITAT dismissed the revenue's appeals, upholding the CIT(A)'s decisions. It confirmed that lease rent income should be treated as income from house property, not as business income. The inclusion of notional benefits from interest-free deposits in computing annual letting value was rejected. Reopened assessments for years beyond the four-year limit were quashed, emphasizing the importance of consistency in judicial decisions and the principle of res judicata. The ITAT highlighted the need to abide by settled issues unless reversed by a superior court. Case-Laws Income Tax Fri, 06 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121526