9911796707
TMI Blog2005 (2) TMI 64X X X X Extracts X X X X X X X X Extracts X X X X ..... y interference. - Even oh application of commercial principles, the Revenue has failed to make out any case in the absence of any legal right. - question referred to the court is, therefore, answered in the affirmative, i.e., in favour of the assessee X X X X Extracts X X X X X X X X Extracts X X X X ..... come of an assessee had exceeded the amount specified in sub-section (2) of section 208 of the Act, the obligation to submit a statement was absolute and levy of interest was a natural consequence. That the Tribunal had committed an error in law in taking into consideration various extraneous factors like assessment of the assessment year 1977-78, which was completed on March 10, 1981, without appreciating that the Tribunal was dealing with the assessment year 1982-83 and in the intervening period, various assessment years had gone by; in other words, the contention is that only the immediate previous year's income was required to be taken into consideration for the purposes of ascertaining, and that too, only if the pre-condition stipulate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is enjoined to pay such amount of advance tax as accords with such statement in equal instalments on the due dates specified in section 211 of the Act. Coming to section 209 of the Act, it becomes clear that the mode of computation of advance tax is laid down by the said provision. For the present, it is necessary only to take into consideration section 209(1)(a)(i) read with section 209(1)(d)(i) of the Act. The said provisions stipulate that a person is liable to pay advance tax which is computed by adopting as the first base his total income of the latest previous year in respect of which he has been assessed by way of regular assessment and, the second base would be the total income of the latest previous year (being a year later than t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the circumstances, under section 209A, even if, as urged by learned standing counsel, the assessee was required to file a statement of advance tax, the same had to be at a figure showing loss or "nil" figure. Therefore, there was no advance tax payable as such. In the circumstances, the latter part of the provision of section 209A of the Act, which stipulates that, after filing of the statement or the estimate, as the case may be, the person shall pay such amount of advance tax would remain unfulfilled. The requirement of submitting a statement or estimate under the provisions of the Act is for the purposes of paying advance tax and furnishing the basis to the assessing authority on which the advance tax is paid. In the eventuality of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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