1979 (10) TMI 106

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.... payment of advance-tax in the sum of Rs. 8,239. The assessee filed an estimate under s. 212(1) of the Act showing tax payable by the assessee at Rs. 4,620 in addition to an amount of Rs. 1,888 being payment of tax deducted at source. 3. The return of income was submitted by the assessee declaring a total income of Rs. 77,140. The assessment was completed under s. 143(3) of the Act on a total income of Rs. 82, 730. A tax demand in the sum of Rs. 46,542 was created against the assessee on regular assessment exclusive of interest amount as was found chargeable and payable in the case of the assessee under s. 139(8) and 215 of the Act. 4. On the above facts the ITO opined that the assessee was under a statutory obligation to have submitt....

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....mount of Rs. 2,220 upholding the order of the ITO levying penalty in principle, but in view of the fact that he assessee having got relief in quantum from the assessees' income, the actual tax liability of the assessee was to be taken in account for the purposes of the levy of the penalty. 8. Aggrieved the assessee has come up in second appeal as such we are seized of the matter. 9. Before us the learned counsel for the assessee has contended that he assessee has filed an estimate under s. 212(1) of the Act and this fact finds mention in the order of the ITO whereby penalty has been imposed on the assessee, that once an estimate has been filed under s. 212(1) of the Act, it cannot be said that the assessee has failed to furnish an est....

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.... by him in accordance with the provisions of sub-s (3A) of s. 212, the assessee can be directed to pay penalty as provided in the said section. 12. On the facts of the case in appeal before us it is an admitted fact that the assessee did file an estimate under s. 212(1) of the Act showing payable tax payment of Rs. 4,620 in addition to tax deducted at source of Rs. 1,898. The assessee has also been subjected to a levy of penalty under s. 273(a) of the Act for having furnished an estimate of advance-tax under s. 212 of the Act for which the assessee has been held to have filed the estimate which was untrue to the knowledge of the assessee or else the assessee has had reason to believe that the estimate filed by him was untrue. The assesse....