2004 (3) TMI 55

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..... orities – Held that Assessing Officer was not justified in rejecting this estimate and requiring the assessee to pay advance tax in terms of his order under section 210(3)
Judge(s) : N. K. SUD., HEMANT GUPTA. JUDGMENT The judgment of the court was delivered by N.K. SUD J.-Challenge in this petition is to the letter issued by the Assistant Commissioner of Income-tax, Patiala, dated March 12 .....

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..... ed at Rs. 20.54 crores. Since a sum of Rs.15 crores had already been deposited as advance tax, the balance payable by the petitioners was shown as Rs. 5.54 crores. This amount was also deposited on March 12,2004. The Assessing Officer vide the impugned order dated March 12,2004, annexure P2 has rejected this estimate on the ground that Form No.28A could not be filed without pointing out any mistak .....

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..... t regularly assessed income for the assessment year 2000-01 as per the provisions of section 210(3) of the Act. Since the assessee was of the view that in its estimate, the advance tax payable on its current income during the current financial year would be less, it exercised its right under section 210(5) by filing an estimate of income on Form No.28A. No provision of law has been shown to us und .....

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