https://www.taxtmi.com/caselaws?id=69691 Penalty under section 273(c) of the Income-tax Act is attracted only on failure to furnish an estimate of advance tax in accordance with section 212(3A), not merely because tax on a validly filed estimate was unpaid. The estimate placed before the appellate authority showed that the assessee had in fact furnished an estimate broadly consistent with returned income, so the proceedings could not proceed on the basis that no estimate was filed. On that reasoning, the analogous position under section 18A of the 1922 Act also supported the view that the penalty provision for non-furnishing of an estimate could not be used to penalise non-payment alone. en-us Thu, 30 Jun 1977 00:00:00 +0530 Mon, 11 Apr 2011 15:57:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69691 Penalty under section 273(c) of the Income-tax Act is attracted only on failure to furnish an estimate of advance tax in accordance with section 212(3A), not merely because tax on a validly filed estimate was unpaid. The estimate placed before the appellate authority showed that the assessee had in fact furnished an estimate broadly consistent with returned income, so the proceedings could not proceed on the basis that no estimate was filed. On that reasoning, the analogous position under section 18A of the 1922 Act also supported the view that the penalty provision for non-furnishing of an estimate could not be used to penalise non-payment alone. Case-Laws Income Tax Thu, 30 Jun 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69691