https://www.taxtmi.com/caselaws?id=189285 Income from a source in non-taxable territory, when earlier included only in total world income for rate purposes, is not treated as a prior assessment of that source under the proviso to section 2(11)(i)(a) of the Income-tax Act, 1922. The proviso must be read with the words referring to a particular source of income, profits and gains, so the relevant assessment is one made on that source for inclusion in total income. Use of such income merely to fix the rate on total world income does not amount to assessment of the source. On that construction, the assessee was not barred from choosing the financial year ending 31 March 1950 as the previous year for assessment year 1950-51. en-us Fri, 28 Oct 1960 00:00:00 +0530 Wed, 04 Jan 2017 16:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189285 Income from a source in non-taxable territory, when earlier included only in total world income for rate purposes, is not treated as a prior assessment of that source under the proviso to section 2(11)(i)(a) of the Income-tax Act, 1922. The proviso must be read with the words referring to a particular source of income, profits and gains, so the relevant assessment is one made on that source for inclusion in total income. Use of such income merely to fix the rate on total world income does not amount to assessment of the source. On that construction, the assessee was not barred from choosing the financial year ending 31 March 1950 as the previous year for assessment year 1950-51. Case-Laws Income Tax Fri, 28 Oct 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189285