1980 (8) TMI 120

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....Act, 1961. 2. The assessee is a partner of the firm M/s Janta Hardware Stores, Bhopal. The assessee was required by a notice under s. 210 of the Act to pay advance-tax amounting to Rs. 4,920 in the financial year 1973-74 relevant to the Asst. yr. 1974-75. The assessee paid the advance-tax in all amounting to Rs. 10,063. In the return of income filed by the assessee he declared an income of Rs. ....

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.... the AAC the assessee's ld. Counsel pointed out that the advance-tax demanded by the ITO was Rs. 10,063 and not Rs. 4,920 as mentioned in the penalty order. On verification, this contention of the assessee was found to be correct by the AAC. It was further contended by the assessee's ld. counsel that the enhancement in the income of the assessee was due to the application of higher gross profit ra....

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....The ld. Deptl Rep. supported the order of the AAC. 5. In our opinion, the assessee is required to file further estimate of advance-tax under s. 212(3A) if his current income is higher than the income on the basis of which the advance-tax had been demanded from him to such an extent that the advance-tax computed on the estimated current income exceeds the advance-tax demanded by more than 33 1/3....