https://www.taxtmi.com/caselaws?id=49445 For limitation under section 34(1)(a) of the Indian Income-tax Act, the phrase "for any year" was construed in the context of the Act's charging and assessment scheme, including the return-filing requirement and the assessment structure. The reference was taken to mean the assessment year, not the accounting year, because income is assessed by reference to the assessment year even when it arises from the previous year. This reading also avoided inconsistent limitation periods across different heads of income. On that basis, the notice and reassessment proceedings were treated as being within time. en-us Thu, 05 Oct 1961 00:00:00 +0530 Fri, 29 Aug 2014 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49445 For limitation under section 34(1)(a) of the Indian Income-tax Act, the phrase "for any year" was construed in the context of the Act's charging and assessment scheme, including the return-filing requirement and the assessment structure. The reference was taken to mean the assessment year, not the accounting year, because income is assessed by reference to the assessment year even when it arises from the previous year. This reading also avoided inconsistent limitation periods across different heads of income. On that basis, the notice and reassessment proceedings were treated as being within time. Case-Laws Income Tax Thu, 05 Oct 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49445