TaxTMI 
TaxTMI 
TaxTMI 
1980 (1) TMI 84
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....equired to pay advance tax in terms of s. 210 in three equal instalments at the rate of Rs. 6,600 on the due dates mentioned under s. 211(1)(ii), viz., 15th September, 15th December and 15th March. The first two instalments were paid by the petitioner on the due dates. On March 13, 1976, which was two days prior to the due date for the payment of the third instalment, the petitioner forwarded an estimate of his income together with a demand draft for Rs. 55,760 being the balance advance tax payable by him on the basis of such estimate. The demand draft was admittedly received by the department on March 16, 1976, which was a day later than the date on which the third instalment became due. For the reason that the third instalment was paid to....
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....tes during the financial year, namely :--... (ii) the 15th day of September, the 15th day of December and the 15th day of March, in any other case ...... : " The instalment in question is the one that was due and payable on the 15th day of March. Section 212(3A) reads : " (3A) In the case of any assessee who is required to pay advance tax by an order under section 210, if, by reason of the current income being likely to be greater than the income on which the advance tax payable by him under section 210 has been computed or for any other reason, the amount of advance tax computed in the manner laid down in section 209 on the current income (which shall be estimated by the assessee) exceeds the amount of advance tax demanded from him unde....
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....it is stated in the impugned order that the date of payment was the 19th which was the date of encashment. Whatever that be, the demand draft itself had been received by the department only a day later than the due date for payment. The question, therefore, is whether interest is payable by the Government in respect of the amount that was paid in excess of what was ultimately determined to be due from the assessee as per the final order of assessment. Before I read s. 214, I shall refer to s. 218(2), which says : (2) If any assessee has sent under sub-section (1) or sub-section (2) or sub-section (3) or sub-section (3A) of section 212 an estimate or a revised estimate of the advance tax payable by him, but does not pay any instalment in a....