https://www.taxtmi.com/caselaws?id=49260 The Supreme Court interpreted the proviso to section 2(11)(i)(a) of the Indian Income-tax Act, 1922, regarding the length of the "previous year" and the Income-tax Officer's power to sanction changes. The Court held that the previous year need not be limited to 12 months and affirmed the Officer's authority to allow a 21-month period. It ruled that once the length of the previous year is set, income must be taxed at the specified rate for the entire duration. The Court dismissed the appeal, upholding the Officer's conditions for changing the previous year and affirming the assessment of income for the extended period. en-us Tue, 18 Jan 1966 00:00:00 +0530 Sun, 17 Aug 2014 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49260 The Supreme Court interpreted the proviso to section 2(11)(i)(a) of the Indian Income-tax Act, 1922, regarding the length of the "previous year" and the Income-tax Officer's power to sanction changes. The Court held that the previous year need not be limited to 12 months and affirmed the Officer's authority to allow a 21-month period. It ruled that once the length of the previous year is set, income must be taxed at the specified rate for the entire duration. The Court dismissed the appeal, upholding the Officer's conditions for changing the previous year and affirming the assessment of income for the extended period. Case-Laws Income Tax Tue, 18 Jan 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49260