2001 (1) TMI 73

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....llowing question has been referred for the opinion of this court by the Income-tax Appellate Tribunal, Delhi Bench-E (the "Tribunal" in short), under section 256(1) of the Income-tax Act, 1961 (in short "the Act") "Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in holding that the sum of Rs. 1,26,000 should be taken into account while calculating the qu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of advance tax was due, i.e., March 15, 1972. However, the assessee filed the estimate of current income on March 25, 1972, and paid the sum of Rs. 1,24,000 on March 13, 1972, over and above Rs. 39,062, which had already been paid. The Income-tax Officer levied interest in terms of section 217(1A) of the Act. While doing so he did not take into account payment of Rs. 1,24,000 made on March 13, 197....