Case Law Analysis
|Income Tax Appellate Tribunal
Consistency Principle in Tax Assessments | ITAT Delhi Binds Revenue to Prior Year Treatment for Identical Facts : ITAT Delhi
ITAT Delhi rules that the Revenue cannot reopen settled tax positions for identical facts across assessment years without a material change in circumstances. The tribunal upheld a 1% addition on gross bank transactions, rejecting arbitrary reassessment attempts, reinforcing binding precedent for taxpayers and tax authorities.