CIT v. G.K. Devarajulu
tax-assessment line · Supreme Court of India
Income-tax is charged on the total income of the previous year; the assessment year is only the year in which that charge is computed and collected.
Unit I · Law of Taxation
Previous year, assessment year and the charging section
Study aid only. Confirm statute numbers with the current bare Act and the official OU LL.B. (3-YDC) 2024–25 syllabus PDF.
Statute sections
| Act / instrument | Section | Name |
|---|---|---|
| Income-tax Act, 1961 | 2(9) | Assessment year |
| Income-tax Act, 1961 | 3 | Previous year defined |
| Income-tax Act, 1961 | 4 | Charge of income-tax |
| Income-tax Act, 1961 | 2(31) | Person |
Landmark cases
Wallace Brothers & Co. Ltd. v. CIT
(1948) 16 ITR 240 (PC) · Privy Council
A previous-year nexus with India is enough to support extra-territorial charge of tax.