https://www.taxtmi.com/caselaws?id=162040 Advance tax under section 3(10) of the Bihar Finance Act, 1981 could be demanded only for the same financial year for which liability was being estimated, because "year" meant a financial year unless a valid notification fixed a different period; accordingly, a demand raised in one financial year for the next was beyond statutory authority and invalid. However, the provision also permitted collection of estimated tax in instalments within the current financial year, so the demand for the fourth quarter of that year was within the statute and legally sustainable. en-us Fri, 16 Sep 2005 00:00:00 +0530 Fri, 14 Feb 2014 17:49:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162040 Advance tax under section 3(10) of the Bihar Finance Act, 1981 could be demanded only for the same financial year for which liability was being estimated, because "year" meant a financial year unless a valid notification fixed a different period; accordingly, a demand raised in one financial year for the next was beyond statutory authority and invalid. However, the provision also permitted collection of estimated tax in instalments within the current financial year, so the demand for the fourth quarter of that year was within the statute and legally sustainable. Case-Laws VAT and Sales Tax Fri, 16 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162040