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Prior period income

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(Querist)
30 January 2014 what will be the treatment of prior period income under income tax act??? plz also refer section and link if available. .....
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CA Rajya lakshmi

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CA Rajya lakshmi (Expert)
30 January 2014 Offer the income to tax in the subsequent Asst year to avoid penalities, if the tax rate of two year i.e prior and current are same then no problem , if there is diff then department people may object
ref : CIT vs. Vishnu Industrial Gases
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