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2023 (8) TMI 334 - AT - Income TaxCorrect head of income - income from rent - business income or House property - assessee company was allotted land by Noida Authority on 90 years lease of the development of amusement park. The permissible use is on area of 85% under ‘theme amusement and entertainment park’ and area of 15% under commercial facilities supportive of park - Application of principle of res judicata - It is the case of assessee that for A.Y. 2014-15 and 2015-16 also with rental income under head ‘income from house property’ has been accepted HELD THAT:- Appreciating the matter on record it can be observed that Ld. DR could not dispute the fact that in the preceding and subsequent years the assessee’s claim of income from rent has been accepted and same has been foundation of relief given by Ld. CIT(A). Thus, the Bench is of considered opinion that though the principle of res judicata does not apply to the income tax proceedings still when the revenue has accepted the head of income in the preceding and subsequent year’s assessment, then attributing income on a different head in a stray manner cannot be made. The reliance of ld. CIT(A) on the judgment of Hon’ble Supreme Court in the case of Raj Dadarkar & Associates Vs. ACIT [2017 (5) TMI 586 - SUPREME COURT] cannot be interfered. Consequently, the grounds raised by the Revenue have no substance. The appeal of Revenue is dismissed.
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