Dy. Cit vs Divya Investment (P) Ltd.

The Supreme Court held that the High Court erred in entertaining writ petitions regarding the classification of income as business income instead of income from house property, as determined by the Tribunal. The Court emphasized that the unit of assessment is a 'year' under the Income Tax Act, and the High Court should not have issued a blanket order for subsequent years based on a prior ruling. The Court directed that the parties should have appealed to the Tribunal under Section 253 of the Income Tax Act, 1961, and allowed for the filing of such appeals within four weeks without the risk of dismissal due to delay.