Substitution of total income clarifies use of later-year tax-paid income to replace an earlier total income for assessment purposes. Amendment substitutes clause (d) of section 209 to require substitution of the earlier total income where the assessee's later-year total income on which tax was paid under section 140A exceeds the earlier total, or where an amended assessment order is made on the basis of income on which tax was paid under section 140A; an Explanation mandates inclusion of a partner's share determined by a later completed assessment of a registered firm for the purposes of clause (a).
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Provisions expressly mentioned in the judgment/order text.
Substitution of total income clarifies use of later-year tax-paid income to replace an earlier total income for assessment purposes.
Amendment substitutes clause (d) of section 209 to require substitution of the earlier total income where the assessee's later-year total income on which tax was paid under section 140A exceeds the earlier total, or where an amended assessment order is made on the basis of income on which tax was paid under section 140A; an Explanation mandates inclusion of a partner's share determined by a later completed assessment of a registered firm for the purposes of clause (a).
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