2000 (4) TMI 26

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..... r short "the Act"), the Revenue seeks a direction to the Income-tax Appellate Tribunal to state the case and refer the following question, said to be one of law, for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that the rent received from factory building is to be assessed as income from busi .....

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..... use property". Aggrieved, the assessee preferred appeal to the Commissioner of Income-tax (Appeals) who, after calling for a remand report from the Assessing Officer came to the conclusion that the factory building continued to be a commercial asset of the assessee inasmuch as the assessee was carrying on its business in the said premises and only a part of it had been let out. He accordingly tre .....

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..... r the respondent, we are of the view that no fault can be found with the order of the Tribunal declining to make a reference on the proposed question. It is true that each assessment year being independent of the other, the doctrine of res judicata does not strictly apply to income-tax proceedings, but where an issue has been considered and decided consistently in a number of earlier assessment ye .....

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