1986 (4) TMI 100

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....referred to as the Act). It is opposed by the assessee. 2. For the assessment year under consideration a notice under s. 210 of the Act was issued by the ITO requiring the assessee to deposit advance-tax of Rs. 4,51,685. The assessee, however, submitted on 15th Sept., 1977 an estimate of income showing nil income and consequently nil tax. However, it revised the estimate on 15th March, 1978 sho....

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....n appeal, the CIT (A) allowed the assessee's claim on the strength of several decisions, namely-- 1. Chandra Kanta Damodar Das vs. ITO, Rajkot (1980) 16 CTR (Guj) 1 : (1980) 123 ITR 748 (Guj); 2. CIT vs. Jagannath Narayan Kutumbik Trust (1984) 144 ITR 523 (MP); and 3. Santha S. Shenoy & Ors. vs. Union of India (1982) 29 CTR (Ker) 127 : (1982) 135 ITR 39 (Ker). 3. Being aggrieved the De....