https://www.taxtmi.com/caselaws?id=38716 For salary income where no accounts are maintained, the previous year remains the financial year under the Income-tax Act, and a concessional order cannot alter that statutory accounting rule; the assessee was therefore entitled to treat the year ending 31 March 1964 as the relevant previous year. The 60% deduction under the Pondicherry Taxation Concessions Order had to be computed on the gross tax first, because the compulsory deposit arose under a separate scheme and only thereafter affected the net liability; the concession was accordingly applied before the compulsory deposit adjustment. en-us Thu, 29 Apr 1976 00:00:00 +0530 Thu, 08 Apr 2010 15:18:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38716 For salary income where no accounts are maintained, the previous year remains the financial year under the Income-tax Act, and a concessional order cannot alter that statutory accounting rule; the assessee was therefore entitled to treat the year ending 31 March 1964 as the relevant previous year. The 60% deduction under the Pondicherry Taxation Concessions Order had to be computed on the gross tax first, because the compulsory deposit arose under a separate scheme and only thereafter affected the net liability; the concession was accordingly applied before the compulsory deposit adjustment. Case-Laws Income Tax Thu, 29 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38716