Procedure in cases of hijri year taken as previous year and where financial year adopted in place of hijri as previous year.

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....ect (copy enclosed for ready reference).* 2. It would be observed that while delineating the procedure to be followed in switching over to the financial year as previous year from the Hijri year, it was directed that in the first assessment to be made after the change, the income of the period prior to the financial year not assessed in the earlier assessment plus the income of the relevant fin....

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....re, the rates enacted by the Finance Act are not with reference to the financial year but with reference to the assessment year. The income of the entire previous year relevant to the assessment year concerned has, therefore, to be charged as one unit at the rates prescribed in the Finance Act. 4. These instructions may please be brought to the notice of all the officers working in your charge.....