https://www.taxtmi.com/caselaws?id=69756 Penalty for failure to furnish an advance-tax estimate under section 212(3A) depends on whether the assessee was conscious that current income would exceed the income forming the basis of the section 210 demand. Failure to file an estimate is not contumacious where lack of such awareness establishes reasonable cause. Where increased income arose from a partnership firm that itself failed to furnish an estimate and was penalised for that default, the partner's default was treated as coextensive with the firm's. Penalty under section 273(c) was therefore cancelled. en-us Thu, 24 Apr 1980 00:00:00 +0530 Mon, 11 Apr 2011 18:46:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69756 Penalty for failure to furnish an advance-tax estimate under section 212(3A) depends on whether the assessee was conscious that current income would exceed the income forming the basis of the section 210 demand. Failure to file an estimate is not contumacious where lack of such awareness establishes reasonable cause. Where increased income arose from a partnership firm that itself failed to furnish an estimate and was penalised for that default, the partner's default was treated as coextensive with the firm's. Penalty under section 273(c) was therefore cancelled. Case-Laws Income Tax Thu, 24 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69756