https://www.taxtmi.com/caselaws?id=191491 In income-tax matters, a prior decision binds later assessment years only if it finally determines a right or title, or a fact or legal position fundamental to the decision, and not where the earlier ruling was confined to a single year's circumstances. The earlier Allahabad High Court ruling did not decide that unabsorbed depreciation could be carried forward and set off in subsequent years, and the later year involved different facts. The doctrine of res judicata therefore did not extend the earlier answer to the later assessment, and the assessee was not entitled to set off accumulated depreciation against later-year profits. en-us Wed, 26 Oct 1949 00:00:00 +0530 Wed, 05 Apr 2017 17:42:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191491 In income-tax matters, a prior decision binds later assessment years only if it finally determines a right or title, or a fact or legal position fundamental to the decision, and not where the earlier ruling was confined to a single year's circumstances. The earlier Allahabad High Court ruling did not decide that unabsorbed depreciation could be carried forward and set off in subsequent years, and the later year involved different facts. The doctrine of res judicata therefore did not extend the earlier answer to the later assessment, and the assessee was not entitled to set off accumulated depreciation against later-year profits. Case-Laws Income Tax Wed, 26 Oct 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191491