https://www.taxtmi.com/caselaws?id=29121 Amounts recovered as under-charges in the course of business and retained in credit balances, with the surplus transferred to the profit and loss account, were treated as business income and included in total income. The High Court also noted that a different factual view taken in another assessment year did not justify remand or fresh evidence, because income-tax proceedings are year-specific and there is no res judicata between assessment years. On those facts, the referred question was answered in the affirmative and against the assessee. en-us Mon, 05 Jun 1978 00:00:00 +0530 Thu, 11 Mar 2010 10:17:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29121 Amounts recovered as under-charges in the course of business and retained in credit balances, with the surplus transferred to the profit and loss account, were treated as business income and included in total income. The High Court also noted that a different factual view taken in another assessment year did not justify remand or fresh evidence, because income-tax proceedings are year-specific and there is no res judicata between assessment years. On those facts, the referred question was answered in the affirmative and against the assessee. Case-Laws Income Tax Mon, 05 Jun 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29121