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1967 (7) TMI 20 - HC - Income TaxFinancial Year - Previous Year - Unless the firm has balanced its accounts in the sense of drawing up a balance-sheet and ascertaining the profits as of a particular date, the option under s. 2(11)(c) cannot be availed of by the assessee and since the assessee had merely carried forward the balances from Samvat year 2014 to Samvat year 2015, it cannot be said that as at the end of Samvat year 2014, the assessee had made up its accounts
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