Effect of higher income estimates for assessment year 1986-87 in relation to other assessments-Clarification regarding

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....the notice of the Board that despite the issue of Circular No. 423 dated 26-6-1985,* and No. 432 dated 15-11-1985,** on the above subject, fears continue to be expressed on behalf of some existing taxpayers who may declare for the purpose of payment of advance tax during the current financial year, a substantially higher income than that assessed for any earlier year and on behalf of some new taxp....

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....t of advance tax for the current year, of a substantially high income cannot by itself constitute a valid ground for starting assessment proceedings for the earlier years. Thus, the question of starting any roving enquiries against such taxpayers does not arise. 3. While it is true that the penal provisions of law will hereafter be applied strictly in cases where a person having taxable income ....