1981 (8) TMI 139

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.... firm which was admittedly maintaining the accounts in which the dividend income is also recorded. The assessee has been having the year ending 30th June as the previous year and was being assessed accordingly. For the asst. yr. 1977-78 corresponding to the previous year ended 30th June, 1976 also the assessee filed a return showing income from business as well as dividend income of Rs. 4,275. How....

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....a Pradesh High Court in the case of Addl. CIT vs. K. Ramachandra Rao (1981) 20 CTR (AP) 60 : (1981) 127 ITR 414 (AP) where it was pointed out that u/s 3(3) an assessee may have different previous years in respect of each source of his income and the adoption of the pervious year is at the choice of the assessee. On the facts of the present case, when the assessee had admittedly maintained the acco....