"26 December 1974" Archive

Circular No. 157-Income Tax dated 26-12-1974

Circular No. 157-Income Tax (26/12/1974)

Circular : No. 157 -Income Tax Attention is invited to Board’s Instruction No. 45/78/66/ITJ(5), dated 24-2-1967 [printed here as Clarification 2] on the subject of assessment made under section 41(2) of the 1922 Act/section 166 of the 1961 Act. In spite of the clear instructions to the effect that neither section 41 which give an optio...

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