https://www.taxtmi.com/caselaws?id=14035 A late request to alter the previous year under section 3(4) of the Income-tax Act, 1961 was refused because it was made long after the close of the relevant assessment year and after advance tax had already been paid on the basis of a 12-month period. The Income-tax Officer's discretion was exercised against the assessee, and no illegality in that exercise was shown. The court accepted that allowing the change at such a stage could prejudice the Revenue. The refusal to change the previous year was therefore justified, and the referred question was answered in favour of the Revenue. en-us Wed, 21 Feb 2001 00:00:00 +0530 Tue, 07 Jul 2009 17:04:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14035 A late request to alter the previous year under section 3(4) of the Income-tax Act, 1961 was refused because it was made long after the close of the relevant assessment year and after advance tax had already been paid on the basis of a 12-month period. The Income-tax Officer's discretion was exercised against the assessee, and no illegality in that exercise was shown. The court accepted that allowing the change at such a stage could prejudice the Revenue. The refusal to change the previous year was therefore justified, and the referred question was answered in favour of the Revenue. Case-Laws Income Tax Wed, 21 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14035