https://www.taxtmi.com/caselaws?id=240059 The Tribunal upheld the legality of reassessment proceedings initiated by the Assessing Officer, citing valid reasons for reassessment based on material available. It dismissed objections to the service of notice under Section 148, noting the assessees' participation without raising concerns. The Tribunal rejected the application of the doctrine of res judicata to income tax proceedings and upheld the treatment of rental income as "Income from House Property." While denying the consistency argument for treating rental income as business income, it allowed house tax and business expenses under Section 57(iii) if incurred exclusively for earning rental income, remanding the matter for verification. en-us Tue, 30 Jul 2013 00:00:00 +0530 Mon, 25 Nov 2013 00:52:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240059 The Tribunal upheld the legality of reassessment proceedings initiated by the Assessing Officer, citing valid reasons for reassessment based on material available. It dismissed objections to the service of notice under Section 148, noting the assessees' participation without raising concerns. The Tribunal rejected the application of the doctrine of res judicata to income tax proceedings and upheld the treatment of rental income as "Income from House Property." While denying the consistency argument for treating rental income as business income, it allowed house tax and business expenses under Section 57(iii) if incurred exclusively for earning rental income, remanding the matter for verification. Case-Laws Income Tax Tue, 30 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240059