1983 (11) TMI 167

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....y why such a conclusion was arrived at. However, it appears that it was the stand of the ITO that the assessee was bound to file an estimate of advance-tax in Form No. 28A u/s 209A, while it had filed such an estimate in Form No. 29, on 13th Jun., 1979 notwithstanding the assessee had only suffered loss in earlier years and the last completed assessment for asst. yr. 1976-77 was also on a loss. The assessee was under the impression that in such circumstance estimate has to be made in Form No. 29 and it accordingly submitted an estimate on an income at Rs. two lakhs and tax payable at Rs. 12 lakhs tax to be paid of Rs. 1,18,250 on 13th Jun., 1979 in Form No. 29, He raised the estimate to Rs. 7,09,500 on 13th Sept., 1979 again in Form No. 29.....

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....-tax. Such payment has all the characteristics of advance-tax notwithstanding the fact that the assessee was not obliged to make it. was advance-tax for the simple reason that it was paid in advance during he financial year preceding the assessment year. He characterised the attitude of the authorities as "a travesty of justice to ignore the payments" and to levy interest on amounts already lying with Revenue as though it was outstanding. Since interest u/s 139 is chargeable only on net tax, he allowed the appeal on this point. 4. In the Departmental appeal, the stand before the first appellate authority is repeated. It is claimed that Form No. 28A has to be filed in pursuance of assessee's liability u/s 209(1) and (4) and that failure t....

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....The forms, in these essential particulars, are similar and provide for estimate of income under various head and tax payable thereon. The use of one form for the other, when there is some doubt in the mind of the taxpayer as to the correct form, could not make an advance-tax payment into an "ad hoc payment", especially, when all the forms in essential particulars are found by us to be materially the same. The funds were paid during he financial year. The amounts payable and actually paid were the same as would have been payable under the Form (No. 28A) preferred by Revenue. Interest u/s 139(8) is chargeable with reference to the tax that is payable "as reduced by the advance-tax", if any, paid, and any tax deducted at source. Hence, what is....