https://www.taxtmi.com/caselaws?id=276289 For the purpose of the statutory option as to the previous year, prior inclusion of income only for rate purposes does not amount to an assessment of that source; a conscious and demonstrable election is required. On that basis, the managing and selling agency income could be computed on the financial year ending 31 March 1950. Under paragraph 12 of the Part B States (Taxation Concessions) Order, 1950, relief was confined to the express concession for dividend income, and the provision did not extend the same relief to super-tax beyond the limits stated in the Order. en-us Fri, 28 Oct 1960 00:00:00 +0530 Mon, 05 Nov 2018 12:22:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276289 For the purpose of the statutory option as to the previous year, prior inclusion of income only for rate purposes does not amount to an assessment of that source; a conscious and demonstrable election is required. On that basis, the managing and selling agency income could be computed on the financial year ending 31 March 1950. Under paragraph 12 of the Part B States (Taxation Concessions) Order, 1950, relief was confined to the express concession for dividend income, and the provision did not extend the same relief to super-tax beyond the limits stated in the Order. Case-Laws Income Tax Fri, 28 Oct 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276289