9911796707
TMI Blog1982 (12) TMI 57X X X X Extracts X X X X X X X X Extracts X X X X ..... ber, 1975 and 13th December, 1975. On 15th March, 1976, the assessee filed an estimate of advance-tax u/s. 212(3A) of the Act, showing an amount of Rs. 45,859 as the advance-tax payable. Deducting the amount of advance-tax already paid, the assessee tendered the balance amount by means of a cheque on 15th March, 1976 which was, however cleared in the Reserve Bank on 18th March, 1976. The ITO came to hold the view that the assessee did not file an estimate of the advance-tax payable by him as required u/s. 212(3A) of the Act, and so he started a penalty proceedings u/s. 273(c) of the Act. The assessee by his letter dt. 1st March, 1979 delivered to the ITO on 2nd March, 1979 stated that the provisions of s. 212(3A) of the Act were attracted i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the cheque on 15th March, 1976, which was the last day prescribed under the law, the CIT(A) came to the conclusion that the penalty imposed by the ITO was not justified. Hence, he cancelled the penalty. 4. Shri S. Krishnan, the ld. representative for the department, urged before us that the CIT(A) has erred in his decision. He contended that s. 212(3A) requires an assessee to file a voluntary estimate of the advance-tax payable by him, if and only if, the advance-tax payable by him according to his estimate exceeded the advance-tax demanded from him by 33-1/2% of the latter. He stated that the demand of advance made from the assessee was Rs.37,075, and the assessee could have filed an estimate u/s. 212(3A) only if the tax payable by him ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee was also handed over on 15th March, 1976. He also urged that there was a mistake in the amount of penalty as calculated by the ITO inasmuch as the penalty impossible worked out to a much lower figure. 6. We have considered the contentions of both the parties, as well as the facts on record. We find that a penalty u/s. 273(c) can be levied for a default u/s. 212(3A) of the Act, which requires the assessee to file on estimate of the advance-tax payable by him before the prescribed date, and pay the additional tax accordingly. The CIT(A) has found that the assessee has indeed filed the estimate and paid the tax according to the said estimate before the prescribed date and this fact, has not been, and could not be controverted befor ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
