https://www.taxtmi.com/caselaws?id=59778 Penalty under section 273(c) for failure to file a revised estimate under section 212(3A) was held not exigible because the assessee's commission income depended on later realisation of sale proceeds and settlement by principals, making the correct income difficult to anticipate when advance tax was estimated. The materials did not show deliberate avoidance of compliance, and the penal provision could not be sustained without such default. The key principle stated was that a penalty for non-filing of a revised estimate cannot be upheld where the assessee demonstrates a genuine inability to forecast income and no intentional evasion is established. en-us Fri, 19 Dec 1980 00:00:00 +0530 Sat, 01 Jan 2011 11:41:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59778 Penalty under section 273(c) for failure to file a revised estimate under section 212(3A) was held not exigible because the assessee's commission income depended on later realisation of sale proceeds and settlement by principals, making the correct income difficult to anticipate when advance tax was estimated. The materials did not show deliberate avoidance of compliance, and the penal provision could not be sustained without such default. The key principle stated was that a penalty for non-filing of a revised estimate cannot be upheld where the assessee demonstrates a genuine inability to forecast income and no intentional evasion is established. Case-Laws Income Tax Fri, 19 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59778