TMI Blog1991 (1) TMI 218X X X X Extracts X X X X X X X X Extracts X X X X ..... the Delhi Bench of the Tribunal in the case of Televista Electronics (P.) Ltd. v. ITO [1985] 12 ITD 161 and the decision of the Bombay High Court in the case of Patel Aluminium (P.) Ltd. v. Miss K.M. Tawadia, ITO [1987] 165 ITR 99. In the assessment order the ITO charged interest of Rs. 3,19,265 towards interest under section 217(1A). There is no discussion in the assessment order regarding this levy of interest. In the statement of facts filed before the CIT(A) it was submitted by the assessee that it had filed a statement as required under section 209A(1)(a) of the Act and that in accordance with it, it was not liable to pay advance-tax for the assessment year 1983-84. It was also stated that the assessee was not obliged to submit the rev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of liability to pay advance-tax. According to it, advance-tax should be payable if the assessee's total income exceeded Rs. 2,500. Section 209 speaks of computation of advance-tax. According to section 209(1)(a)(i) the amount of advance-tax payable by the assessee-company in the financial year shall be computed on the basis of its total income of the latest previous year in respect of which it has been assessed by way of regular assessment. Section 209A speaks of computation and payment of advance-tax by the assessee. According to section 209A(1)(a), every person, who has been previously assessed by way of regular assessment, shall in the previous year, on or before the date on which the first instalment of advance-tax is due, if his cu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 209A(1) in turn speaks of a situation where the assessee's current income is likely to exceed the amount specified in section 208(2). This section 208(2) fastens on the assessee-company the condition of liability to pay advance-tax, if its total income in the financial year exceeds Rs. 2,500. Since the assessee-company felt that its current income was likely to exceed Rs. 2,500, it filed a statement of advance-tax computed on the basis of total income as per regular assessment made on it for the assessment year 1979-80 and showed nil income and advance-tax payable as nil. Since the liability to pay advance-tax has sprung from section 209A(1), the assessee was very much obliged to file a revised estimate of advance-tax as per section 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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