1981 (2) TMI 130

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..... 1975-76, the assessee filed return of income declaring a total income of Rs. 7,944. The assessment was, however, completed on a total income of Rs. 18,050. Since the assessee did not comply with the provisions of s. 212(3) of the IT Act, 1961, by filing an estimate of advance-tax and paying the tax accordingly on or before 15th March, 1975 the ITO initiated penalty proceedings under s. 273(b) of .....

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..... . This order was passed on 16th Oct., 1976. The ld. counsel further submitted that even in respect of the asst. yr. 1973-74, for which the assessment order was passed on 27th Dec., 1975, the total income of the assessee was not found taxable. It was further submitted that by 15th March, 1975, when an estimate of advance-tax under s. 212(3) of the IT Act was required to be filed, the assessee was u .....

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