1981 (2) TMI 130

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....a penalty of Rs. 410 under s. 273(b) of the IT Act, 1961. 2. For the asst. yr. 1975-76, the assessee filed return of income declaring a total income of Rs. 7,944. The assessment was, however, completed on a total income of Rs. 18,050. Since the assessee did not comply with the provisions of s. 212(3) of the IT Act, 1961, by filing an estimate of advance-tax and paying the tax accordingly on or ....

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.... 1974-75 that a finding was given that the income of the assessee was liable to tax. This order was passed on 16th Oct., 1976. The ld. counsel further submitted that even in respect of the asst. yr. 1973-74, for which the assessment order was passed on 27th Dec., 1975, the total income of the assessee was not found taxable. It was further submitted that by 15th March, 1975, when an estimate of adv....