https://www.taxtmi.com/caselaws?id=276808 Section 18A of the Indian Income-tax Act, 1922 was treated as a complete advance-tax scheme on a pay-as-you-earn basis. For a new assessee, section 18A(3) required both an estimate of advance tax and payment of that tax, and the language of section 18A(8) was read broadly enough to cover complete non-compliance, not merely partial payment. The provision for interest was distinguished from section 18A(9), which depended on absence of reasonable cause for penalty. Interest was therefore chargeable where the assessee neither furnished the estimate nor paid advance tax. en-us Fri, 05 Feb 1960 00:00:00 +0530 Sat, 17 Nov 2018 17:23:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276808 Section 18A of the Indian Income-tax Act, 1922 was treated as a complete advance-tax scheme on a pay-as-you-earn basis. For a new assessee, section 18A(3) required both an estimate of advance tax and payment of that tax, and the language of section 18A(8) was read broadly enough to cover complete non-compliance, not merely partial payment. The provision for interest was distinguished from section 18A(9), which depended on absence of reasonable cause for penalty. Interest was therefore chargeable where the assessee neither furnished the estimate nor paid advance tax. Case-Laws Income Tax Fri, 05 Feb 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276808