Case Name : Televista electronics (p.) Ltd. Vs. ITO
Citation : [1985] 12 ITD 161 (DELHI – TRIB.)
Court : ITAT-Delhi
Section : 207 TO 216
Meaning : The term ‘latest previous year in respect of which he has been assessed by way of regular assessment’ in section 209(1)(a)(i) (as it stood prior to 1-4-1998) would simply mean the last completed regular assessment. It is not correct to say that for the purpose of section 209(1)(a)(i), the last completed assessment referred to the year in which the assessee had a positive income.