AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
Spread over of income.
X X X X Extracts X X X X
X X X X Extracts X X X X
....O.NO.58/22/63 -IT(INV) dated the 21st August 1964. D.O.No.16/15/65-IT(INV) dated 16th March 1965. Hitherto the boards instructions were that ordinarily the concealed income should be taxed in the year in which it appears in the account books but it may be spread over if there is reason to believe that it was earned in earlier years. Such a spread over of income should not however ordinarily be for....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nnot always be restricted to 8 years in some cases. It is for this reason that it has been provided in the earlier circulars that if a spread over beyond 8 years was contemplated, the boards approval should be obtained. The kind of cases the board had in view where spread over could be granted beyond 8 years were as under:- i) In cases where there was sufficient material to show that income was....