https://www.taxtmi.com/caselaws?id=277288 For computing profits for the standard period under Schedule I of the Excess Profits Tax Act, the business profits had first to be worked out under Section 10 of the Income-tax Act, 1922, subject to the Schedule, before any later application of the provisions governing total income and residential status under Sections 4 and 4A. The standard period was the relevant unit of computation, so the London profits for the earlier assessment year could not be excluded merely because the assessee's residence position was considered at an intermediate stage. The High Court therefore answered the issue in favour of the assessee and held that the amount could be included in the standard-period profits. en-us Tue, 20 Feb 1951 00:00:00 +0530 Fri, 30 Nov 2018 13:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277288 For computing profits for the standard period under Schedule I of the Excess Profits Tax Act, the business profits had first to be worked out under Section 10 of the Income-tax Act, 1922, subject to the Schedule, before any later application of the provisions governing total income and residential status under Sections 4 and 4A. The standard period was the relevant unit of computation, so the London profits for the earlier assessment year could not be excluded merely because the assessee's residence position was considered at an intermediate stage. The High Court therefore answered the issue in favour of the assessee and held that the amount could be included in the standard-period profits. Case-Laws Income Tax Tue, 20 Feb 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277288