1977 (12) TMI 40

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....ng imposition of penalty of Rs. 3,000 under s. 273 (c) of the Act. 2. Shri V.J. Desai, the learned counsel for the assessee accepted that the assessee had paid advance tax under s. 210 only Rs. 3,000. On final assessment the tax payable by the assessee was Rs. 39,970. In view of s. 212(3-A) the assessee should have revised the advance-tax payable by it and should have paid the higher tax. He, h....

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..... 3. Shri Deodhar, the learned departmental representative, pointed out that the Income-tax Officer had issued show cause notice in respect of this default along with the demand notice and hence he had concluded that the assessee had committed default and proceedings were initiated before the assessment order was passed. Dealing with the aspect that s. 273(c) came into effect only from 1st Apri....