Sec 3(4)-Change in previous year.

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....d to loss to revenue. 2. A case has come to the notice of the board where as a consequence of allowing a change in the previous year there was considerable loss to revenue in the form of wealth tax. The ITO's order u/s.3(4) in the case under consideration had allowed the assessee a change from the financial year to calender year, with the result the previous year was extended to a period of 21 ....