In Brief
The Revenue sought clarification of a Supreme Court judgment on Section 2(15) of the Income Tax Act, 1961 (concerning charitable trusts). The Revenue argued it was precluded from reassessing past years and examining future assessments. The Court held that its judgment binds only the specific assessment years it decided: where appeals were dismissed against the Revenue, those years are final. For other years not before the Court, authorities must apply the declared law to each case individually based on its facts, not as a blanket prohibition on assessment.
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