https://www.taxtmi.com/caselaws?id=49260 On a change of accounting year with the Income-tax Officer's consent, the "previous year" under the Indian Income-tax Act, 1922 may validly extend beyond twelve months to cover the full intervening period between the old and new accounting dates. The consent can be given on conditions ensuring that the entire income of that extended period is brought to charge under the charging provision, but it cannot create two previous years for the same assessment year or split the period by applying different tax rates. The court upheld assessment of the whole extended period at the statutory rate. 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 On a change of accounting year with the Income-tax Officer's consent, the "previous year" under the Indian Income-tax Act, 1922 may validly extend beyond twelve months to cover the full intervening period between the old and new accounting dates. The consent can be given on conditions ensuring that the entire income of that extended period is brought to charge under the charging provision, but it cannot create two previous years for the same assessment year or split the period by applying different tax rates. The court upheld assessment of the whole extended period at the statutory rate. Case-Laws Income Tax Tue, 18 Jan 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49260