1987 (4) TMI 96

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....see is private limited company and the appeal relates to the asst. yr. 1979-80. For this assessment year, the assessee filed an estimate of advance tax on 15th March, 1979 estimating the total income at Rs. 26,200 and the tax thereon after deducting advance payment of tax at Rs. 6,882. The ITO, however, in the course of the assessment proceeding held that the estimate filed by the assessee was wha....

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....on nil income and, therefore, there was no liability to send any statement of advance tax as required by s. 209A(1)(a). Proceeding further Shri shah submitted that when there was no liability to file a statement under s. 209A(1)(a), the provisions of sub-s. (2), sub-s. (3) or sub-s. (4) of s. 209A are not attracted and, therefore, event if the assessee filed an estimate of advance tax and paid tax....

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....able and paying advance tax based thereon. Sub-ss. (2) and (3) of s. 209A apply where the assessee estimates the advance tax on the basis of its current income being less than what is payable according to the statement under s. 209A(1) and these sub-section will, therefore, not be applicable in the assessee's case. Sub-s. (4) of s. 209A applies only where an assessee is liable to pay advance tax u....

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....irement under the law. This cannot, in our view, under any circumstances, attract penalty. In this connection it might perhaps not be out of place to mention here that as laid down by the Hon'ble Supreme Court in the case of Hindustan Steel Ltd. vs. State of Orissa (1972) 83 ITR 29 (SC), penalty for failure to comply with a statutory obligation is the result of a quasi-criminal proceeding and, the....