TaxTMI 
TaxTMI 
1978 (7) TMI 125
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....25,726 paid within the financial year ended 31st Mar., 1972, a portion was not advance tax. the ITO did not consider a portion to be advance tax because according to him certain instalments were paid after the due dates. The position of payments etc., is as under: "Original demand was of Rs. 14,905 under s. 210 of the I.T. Act. The assessee paid 1/3 rd i.e. first instalment on 13th Sept., 1971 of Rs. 4,968. This was before 15th Sep., 1971 and was before due date. On 14th Dec., 1971 the assessee paid the second instalments of Rs. 4,968. This was again before the due date of the second instalment on 15th Dec., 1971. Aggregate payment made before the due date of the first and second instalments was Rs. 9,936 The assessee then filed an estim....
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....s rightly withdrawn. 5. The learned counsel for the assessee, on the other hand, submitted that the delay in encashing the cheque occurred in the IT Office and in any event there was no mistake apparent from the record which could be rectified. 6. The provisions of s. 214(1) read as under: "The Central Government shall pay simple interest at twelve percent per annum on the amount by which the aggregate sum of any instalments of advance-tax paid during any financial year in which they are payable under ss. 207 to 213 exceeds the amount of the tax determined on regular assessment from the 1st day of April, next following the said financial year to the date of the regular assessment for the assessment year immediately following the said ....