https://www.taxtmi.com/caselaws?id=289277 Bombay HC construed the advance-tax scheme as permitting a demand to be spread over fewer than four instalments where the notice of demand was served after the dates fixed in the provision. The court treated the order, notice of demand and governing rules as one statutory framework, and held that the instalment schedule was directory rather than mandatory. On that basis, the advance-tax demand was valid. Because the challenge to penalty under section 28 read with section 18A(9)(a) depended on the same invalidity argument, and the assessee had failed to furnish a correct estimate, the penalty was also upheld. en-us Thu, 16 Aug 1962 00:00:00 +0530 Thu, 23 Jul 2020 14:43:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289277 Bombay HC construed the advance-tax scheme as permitting a demand to be spread over fewer than four instalments where the notice of demand was served after the dates fixed in the provision. The court treated the order, notice of demand and governing rules as one statutory framework, and held that the instalment schedule was directory rather than mandatory. On that basis, the advance-tax demand was valid. Because the challenge to penalty under section 28 read with section 18A(9)(a) depended on the same invalidity argument, and the assessee had failed to furnish a correct estimate, the penalty was also upheld. Case-Laws Income Tax Thu, 16 Aug 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289277