Case Law Details
Case Name : Gopal Purohit Vs. JCIT (ITAT Mumbai)
Related Assessment Year : 2005- 2006
Courts :
All ITAT ITAT Mumbai
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RELEVANT PARAGRAPHS:
8.1 Thus, the nature of activities, modus operandi of the assessee, manner of keeping records and presentation of shares as investment at the year end is same in all the years, hence; apparently, there appears no reason as to why the claims made by the assessee should not be accepted. However, the Revenue Authorities have taken a different view in the year under consideration by holding that principle of res-judicata is not applicable to the assessment proceedings. There cannot be, in our
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