https://www.taxtmi.com/caselaws?id=69184 Penalty under section 273(a) for filing an untrue estimate of income for advance tax purposes was held unsustainable because the material on record supported the assessee's asserted estimate of Rs. 46,000, even though the estimate itself could not be traced from the record. The assessed income of Rs. 51,580 did not place the estimate beyond the permissible limit for advance tax purposes, so the estimate could not be treated as an under-estimate attracting penalty. The levy was therefore not exigible. en-us Mon, 09 Feb 1976 00:00:00 +0530 Tue, 05 Apr 2011 16:28:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69184 Penalty under section 273(a) for filing an untrue estimate of income for advance tax purposes was held unsustainable because the material on record supported the assessee's asserted estimate of Rs. 46,000, even though the estimate itself could not be traced from the record. The assessed income of Rs. 51,580 did not place the estimate beyond the permissible limit for advance tax purposes, so the estimate could not be treated as an under-estimate attracting penalty. The levy was therefore not exigible. Case-Laws Income Tax Mon, 09 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69184