1984 (8) TMI 179

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....mposed under s. 273(a) of the IT Act, 1961 for filing under-estimate of advance-tax is justified or not. The ITO found that on the basis of admitted income or the income ultimately determined after giving effect to the appellate orders the estimate filed by the assessee was under-estimated and called for levy of penalty. Accordingly, he levied a penalty of Rs. 2,584. 2. On appeal the CIT(A) uph....

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....prescribed by the stature. In the estimate the assessee has enhanced the income and also shown tax payable at higher figure than that was demanded by the ITO on the basis of latest completed assessment. Thus for all intent and purposes the assessee has complied with the provisions of law. It is only in the process of compliance with the provisions of law the assessee has entertained certain impres....