2001 (2) TMI 65

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....n section 3(4) of the Income-tax Act, 1961, as it stood during the assessment year 1981-82 that consent of the Income-tax Officer should be sought before effecting change in the previous year, and therefore a request made for such change three years later was required to be acceded to. All the authorities under the Act as also the Tribunal have held that the Income-tax Officer was justified in de....

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.... year in question the advance tax had been paid for the full year. It is submitted before us by counsel for the Revenue that acceding to the request would result in loss to the Revenue as the rate at which the tax is to be levied being dependent upon the total income, any reduction in that income by allowing a different, previous year would result in loss to the Revenue. Counsel for the assessee r....